Updated

BY BILL O'REILLY

On September 14th, my new book will come out. It is entitled "Pinheads and Patriots: Where You Stand in the Age of Obama."

The theme of the book is how the president is directly affecting you, the loyal American. On Friday, the president took a heavy blow when the unemployment report indicated a net loss of jobs in July. Mr. Obama tried to spin it positive, but even the uber liberal "New York Times" says the situation is dire.

According to the polls, most Americans are unhappy with the president's economic performance thus far. It is directly affecting many of us in negative ways.

Now, we're living in a time where you simply have to have money to protect yourself. If you lose your job, it is catastrophic. So job security is a deadly serious business. And after 19 months in office, the president has not improved the job situation very much, despite a half trillion dollars in stimulus spending.

There's an interesting op-ed in "The Wall Street Journal" today by a man named Michael Fleischer, who runs a small business in Ramsey, New Jersey. Mr. Fleischer says he is not hiring because the Feds are making it hard for him to do so. In the article, he runs down the vast array of taxes he has to pay and says his health insurance premiums have risen 28 percent for the business because insurance companies are now passing on the cost the Feds will impose on them for Obama care. So Mr. Fleischer is not hiring even if he needs people. The cost of a new person is simply too high. That's why unemployment remains at 9.5 percent. And millions of Americans have even given up looking for work, choosing the underground economy or living off entitlements.

The president seems inclined to tough it out, believing the Feds can control the economy enough to turn things around. Meantime, conservatives are calling for tax cuts across the board to put more money in play to give small business owners like Michael Fleischer less overhead, but Mr. Obama opposes that.

So the average working American is caught in this terrible ideological war between a liberal president, who want to continue spending to stimulate the economy and an angry opposition that wants to let the free marketplace loose.

Right now, it appears the president will stay his liberal course. And that opens him up for withering criticism, for example. First Lady Michelle Obama under fire for taking a vacation in Spain. White House says the Obamas themselves are paying for her personal expenses, but security costs, of course are borne by the taxpayer.

Some Americans believe this is a slap in the face, that the first lady should be helping the American economy by traveling here. Democrats like Kirsten Powers and Maureen Dowd have even criticized the trip.

Summing up, the economy's not getting much better. And the White House does not seem to be making adjustments. It took President Reagan about two years to turn the Jimmy Carter economy around. So the clock is ticking on Mr. Obama. And that's "The Memo."

PINHEADS & PATRIOTS

Former Dallas Cowboys running back Emmitt Smith was inducted into the Hall of Fame over the weekend and gave much credit to his blocker, Daryl Johnston.

(BEGIN VIDEO CLIP)

EMMITT SMITH, HALL OF FAMER: People don't understand what it took to be a fullback in our system. The sacrifices you made, not simply with your body, but your whole spirit. You took care of me as though you were taking care of your little brother. Without you, without you, I know today would not have been possible. I love you, Daryl, from the bottom of my heart.

(END VIDEO CLIP)

For being humble and generous, Mr. Smith is a patriot.

On the "Pinheads & Patriots" front, we now have the first announced presidential candidate for the 2012 race, Roseanne Barr.

(BEGIN VIDEO CLIP)

ROSEANNE BARR, CANDIDATE FOR PRESIDENT: I am officially announcing that I am running for President of the United States of America.

Step one: legalize hemp and allow women to grow it and make food, clothing housing, and fuel for pennies from it. And legalize marijuana, too!

(END VIDEO CLIP)

I guess the more people who are high, the more votes Ms. Barr might get. It's speculation. Is she a pinhead? You make the call.

The Hemp Party, I love it.