Updated

By Bill O'Reilly

If you saw Jon Stewart and me on Saturday night, you may have noticed there was a very important theme amidst all the chaos. Stewart, an honest and smart liberal person. He believes the federal government should directly help Americans who can't or won't help themselves.

Stewart supports a nanny state where everyone is provided basic life necessities and economic outcomes are guaranteed. Now I disagree with that not because of the intent. The intent is noble. But simply because it's impossible.

The Constitution provides Americans protection so they can pursue happiness. But the founding fathers did not guarantee happiness or material well-being. And if you try do that, you will bankrupt the nation. And that's what's happening right now with the growing $16 trillion debt.

Stewart and I previewed what we'll all be voting on come November 6th. Do you want a nanny state or do you want a self-reliant nation? That's what's at stake in this election.

Now, the left-wing press is not going to tell you that. It portrays President Obama as a main stream politician, a moderate. The right-wing media says he's a socialist, even a communist, bent on destroying traditional America. But Stewart and I pinpointed the real situation. A nanny state versus self-reliance... on point after point after point, Stewart made his argument and I made mine. We did it in a funny way, but it was serious underneath.

"Talking Points" believes that most Americans have no clue about what is at stake in this vote. Most of the polls show the country deadlocked, but I find it very hard to believe that 50 percent of us want to be Western Europe. Maybe I'm wrong, but that's very confusing to me. Really? Do you want to be Greece? Do you want to be Spain? Because that's where this country is heading.

What do you think these people are rioting about in Europe? What? They're angry the governments are cutting back on entitlements. They're furious they may lose free stuff. That's why they're attacking the police. This is what the nanny state mentality leads to. Give me free stuff or I will hurt you.

Now, Jon Stewart is not going to buy that. I told him, but he just doesn't believe it. However, it is absolutely true. So, I hope you'll all watch this debate. It's available on the Rumble2012.com right now. It costs $4.95. And you can watch it any time you want.

Finally, so many people tried to watch the rumble on Saturday night the server crashed... whatever that means. But everything is fixed now, they tell me. So if you want to see it, you can see it. And in the spirit of patriotism, both Stewart and are you giving half the proceeds to charity. We show you some more clips a bit later on.

And that's "The Memo."