Updated

By Bill O'Reilly

A few months ago, "T-Points" stated that the USA is declining in power mainly because of our weakened economic condition which affects everything we do including military action.

Right now there are three… three very troubling challenges to American leadership.

First, Afghanistan. Is President Karzai now demanding the U.S. and coalition forces pull back from the countryside and basically stay in designated bases? Karzai is a corrupt, inept leader reminiscent of the South Vietnamese clowns who totally ruined their country in spite of about 60,000 valiant Americans killed there trying to defend South Vietnam.

Of course Karzai has some legit beefs; you've got to expect blow back from the Afghans when a crazy American sergeant massacres 16 civilians. But all in all the USA has sacrificed massive, massive blood and treasure trying to give the Afghan people a better life. Karzai couldn't care less. He is truly a villain.

In Iran, the mullahs continue to defy the United States and the world because they don't fear President Obama. Perhaps they should. Mr. Obama is on record as saying he will not allow the Iranians to build a nuclear weapon. The President can't back down from that. If he is re-elected we can expect military action against Iran unless they wise up.

The big reason the Iranians can defy the USA is because China is helping them. And here is the main challenge to American power. The Chinese will understand we have a $16 trillion dollar debt and they are holding more than a trillion dollars of it. Economically, we are beholden to Communist China. And things are getting worse. You will remember that President Obama said his new budget would reduce the deficit by $3.2 trillion over the next 10 years.

Well now, now the nonpartisan Congressional Budget Office says that's bogus. The CBO predicting the President's budget next year will actually add $3.5 trillion to the debt in the next 10 years. If that's true, that's a $9 trillion dollar mistake by the Obama administration. And nothing is being done to solve the immense spending problem.

Today marks the ninth anniversary of coalition attack on Saddam Hussein. Back in 2003, we quickly deposed the heinous dictator while trying to give the Iraqi people a better life. The same thing we are doing now in Afghanistan. That invasion in Iraq marked the downturn of American power. Since that time the USA has spent $1.2 trillion dollars on actions in Iraq and Afghanistan. Money we simply don't have.

In addition, more than 6,000 military people have lost their lives. Nearly 50,000... 50,000 have been wounded. "Talking Points" believes America needs a resurrection. We need to get the federal government under control, come up with a sane budget, and reinvigorate our economy by allowing the private marketplace to run.

President Obama is smart enough to understand that but he continues to play to his left-wing base. And eight months from now, that may lead to his defeat.

And that's "The Memo."

Pinheads & Patriots.

And this is kind of hard to believe. President Obama visited Atlanta last week to raise money for his re-election campaign. On the program was singer Cee Lo Green. Backstage was the President. Here's what Mr. Green did.

(BEGIN VIDEO CLIP)

CEE LO GREEN, SINGER (singing): I see you driving around with the girl I love, and I'm like... Guess the change in my pocket wasn't enough. I'm like, (EXPLETIVE DELETED) you and (EXPLETIVE DELETED) her, too. If I was richer, I'd still be with you. Oh, ain't that some (EXPLETIVE DELETED).

(END VIDEO CLIP)

O'REILLY: "Pinhead?" You bet. Have a little respect for the President. It's just inexplicable, these people.