Updated

After last night's vote in New Hampshire there are five viable Republican candidates left standing -- Trump, Cruz, Kasich, Bush, and Rubio. The vote in South Carolina will be on Saturday, February 20th. And already attack ads are on the air between Trump and Cruz.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: What kind of man talks from both sides of his mouth on amnesty for illegals on national television and still denies it? Who took more than a million dollars in sweetheart loans from Wall Street banks and fails to disclose it as required by law?

Ted Cruz, the worst kind of Washington insider who just can't be trusted.

(END VIDEO CLIP)

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: Look, I got the Trump action figure.

UNIDENTIFIED MALE: No way. It's huge.

UNIDENTIFIED FEMALE: What does he do?

UNIDENTIFIED MALE: He pretends to be a Republican.

UNIDENTIFIED FEMALE: You took my house Mr. Trump.

UNIDENTIFIED MALE: That's a lousy house. I'm going to take your house with eminent domain and park my limos there.

UNIDENTIFIED MALE: Eminent domain.

(END VIDEO CLIP)

O'REILLY: So you can see the South Carolina race will be intense as both Trump and Cruz vie for conservative votes and the three more moderate Republicans desperately try to emerge.

Now, on the Democrat side, Bernie Sanders must get black votes in order to compete with Hillary Clinton in South Carolina and Nevada. He started his campaign for those votes last night.

(BEGIN VIDEO CLIP)

SANDERS: When we talk about transforming America, it means ending the disgrace of this country having more people in jail than any other country in the world disproportionately African-American and Latino.

(END VIDEO CLIP)

O'REILLY: Well, Sanders says he is a straight talker but not, not on this issue. Here's the truth. African-Americans make up 13 percent of the total population in the U.S.A. but commit 37 percent of all murders. And 90 percent of black murder victims are killed by other blacks. You will never ever hear either Bernie Sanders or Hillary Clinton say that.

Republican candidates will not likely point it out either because it's politically incorrect. It's much easier to cry racism than actually address the root causes of violent crime which are a corrosive culture and the collapse of the traditional family.

One foot note, some of the candidates made a big deal out of the heroin problem in New Hampshire but, of course, failed to mention that President Obama and other politicians now consider selling heroin on the street -- that's a deadly drug, remember, to be a nonviolent crime; not worth very much punishment. Thus, the risk/reward ratio of dealing hard drugs rises.

Again, most politicians will never tell you the truth about social problems, preferring to pander.

Trump and Sanders, the victors last night largely won because they are seen as mavericks, outsiders who will dismantle a corrupt and inept political system. That is the perception. We will see what kind of reality both bring going forward.

And that's “The Memo”.