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Bill O'Reilly: Will the federal government begin stealing our money?

By Bill O'Reilly

You may have heard that the small country of Cyprus in the

Mediterranean is totally broke. And one proposal from the Cypriot government

was to forcibly, forcibly take money out of personal bank accounts on the

island, steal it from the folks. Steal it to pay their bills.

Now the outcry was immediate and it will not happen but the

lesson is important for Americans. Greece, Italy, Spain, Portugal, Ireland, now

Cyprus all broke. And other European nations are close. Why? Because they are

nanny states and there are not enough workers to support all the entitlements

these progressive paradises are handing out.

Enter the Congressional Progressive Caucus right here in the

USA. It contains 73 members, all of them Democrats except the Socialist Bernie

Sanders from Vermont who is Independent. The CPC wants a 49 percent federal

income tax rate on top earners. They want half. And they don't want many

deductions for those folks. Also the Congressional Progressive Caucus wants

even more government spending. $2.5 trillion more on, quote, "job

creation." Another $2.2 trillion on things like science, energy, the

environment and education. Also the CPC does not want to cut entitlements. And

wants to give unemployed Americans 99 weeks of cash compensation. Nearly two

years.

The question is what does President Obama think of the

Congressional Progressive Caucus? My opinion, he likes it! I don't think the

President believes that crew is fanatical because they want what he wants. And

by the way, the far-left kooks do want to cut one thing, defense spending. They

want to bring that back down to 2006 level. Somewhere Iran is cheering.

As "Talking Points" has said on more than one

occasion there comes a point when Americans are going to have to decide what

country — what kind of country they want. Even taking half of what affluent

Americans earn, feds couldn't possibly afford what the far left wants to

provide. So we would eventually become Greece or Cyprus if the U.S. dollar

collapses and people stop lending us money.

Some conservatives believe that's exactly what the far-left

wants. A collapse of the entire capitalistic system. Some on the right believe

that President Obama is actively working toward that. Certainly Senator Bernie

Sanders of Vermont wants socialism in this country and so do most of his

compatriots on the crazy caucus. Yet, Americans continue to elect them.

And that's "The Memo."

Memo" weeknights at 8 and 11 p.m. ET on the Fox News Channel and any time

on foxnews.com/oreilly. Send your

comments to: oreilly@foxnews.com.

O'Reilly Factor, hosted by Bill O'Reilly, airs on Weekdays at 8PM ET on Fox News Channel.