Updated

By Bill O'Reilly

Factor viewers are correct when writing that anything could happen in Iowa. The caucus vote is small, very conservative and a big surprise could be coming on January 3rd. But there is no question that the trend line is way up for Newt Gingrich, way down for Herman Cain, and declining somewhat for Mitt Romney.

The latest Rasmussen poll among likely Republican primary voters sets Gingrich at 38 percent; Romney, 17; all the other contenders are in single digits. The rise of Gingrich is causing some angst in the Romney camp. As demonstrated by the Governor's interview with Bret Baier earlier this week. Romney is rightly frustrated, every time he turns around, there is another surging candidate on his right flank.

First it was Michele Bachmann, then Rick Perry then, Herman Cain and now Newt Gingrich. So the Governor has got a bit testy, which could be a good thing if he decides to become more aggressive in promoting what he thinks he can do for the country. But if he comes across as petulant, that will hurt him.

Meantime, Newt Gingrich was right, he told us last summer that his campaign would not be traditional, that bringing his message directly to the folks through cable TV news mainly Fox would make him a contender, and that's exactly what has happened.

Also Mr. Gingrich has done well in the debates, hammering some moderators who are perceived as liberals and generally showing a mastery of public policy. Romney has also done well in the debates, but he is not as conservative as Newt Gingrich and in the primaries that puts him... excuse me... at a disadvantage, puts him at a disadvantage.

On the Democratic side, President Obama would rather run against Newt Gingrich than Mitt Romney because the Governor is likely to rally Independents and even some conservative Democrats to his cause while Mr. Gingrich is largely identified with the conservative cause. However, Gingrich could very likely outdebate Barack Obama who is no slouch in that area. Remember three Obama-Gingrich debates would attract massive interest.

Well, the Democrats and the Republicans now know Mr. Gingrich is a player. So the attacks are being stepped up.

(BEGIN VIDEO CLIP)

BARNEY FRANK, CONGRESSMAN: In Gingrich's case, there was an unusually heavy preponderance I think of the bad qualities. It's interesting he and Romney, I mean, if this is the Republican nomination battle now, it does not speak well for being a man of principle.

(END VIDEO CLIP)

O'REILLY: Now Frank's assessment is predictable. But listen to Ron Paul, who hammers Newt Gingrich in an Internet ad.

(BEGIN VIDEO CLIP)

REP. NANCY PELOSI (D), CALIFORNIA: We don't always see eye to eye. Do we, Newt?

NEWT GINGRICH (R), PRESIDENTIAL CANDIDATE: No, but we do agree, our country must take action to address climate change.

I don't think right-wing social engineering is any more desirable than left-wing social engineers.

UNIDENTIFIED MALE: With allies like that, who needs the left?

UNIDENTIFIED MALE: After he left Congress Freddie Mac gave Gingrich at least $1.6 million.

UNIDENTIFIED FEMALE: $1.6 million some of it just before the housing market collapsed.

UNIDENTIFIED MALE: Newt Gingrich renewed his support for an individual mandate.

UNIDENTIFIED MALE: A key tenet to President Obama's health care law.

RUSH LIMBAUGH, RADIO TALK SHOW HOST: A support for an individual mandate? Folks don't ask me to explain this.

UNIDENTIFIED MALE: That's about serial hypocrisy.

(END VIDEO CLIP)

O'REILLY: I don't think Newt and Paul will be dining any time soon. And that's "The Memo."

PINHEADS AND PATRIOTS

CNN anchor Carol Costello a bit skeptical about the denigration of Christmas.

(BEGIN VIDEO CLIP)

CAROL COSTELLO, CNN ANCHOR: Is there really a war on Christmas? Is there such a thing? That's the "Talk Back" question. The first bomb allegedly dropped in Rhode Island. Governor Lincoln Chafee, neither Republican nor Democrat but Independent, called the state house Christmas tree a holiday tree. FOX News, as it does every year, went crazy.

(END VIDEO CLIP)

O'REILLY: Well, with respect, Ms. Costello is a pinhead. All she has to do is look up the litigation to try to drive Christmas out of the season. Facts are facts, madam. Lighten up.