Updated

Speaking in Ohio today, Hillary Clinton portrayed her opponent Donald Trump as a charlotte ton in business and perhaps even a crook.

(BEGIN VIDEO CLIP)

CLINTON: He has been involved in more than 3500 lawsuits in the last 30 years. And a large number were filed by ordinary Americans and small businesses that did work for Trump and never got paid. Painters, waiters, plumbers, people who need the money and didn't get it. Not because he couldn't pay them but because he could stiff them. My late father was a small businessman. If his customers had done what Trump did, my dad would never have made it. So, I take this personally.

(END VIDEO CLIP)

O'REILLY: Strong words almost immediately. Mr. Trump responded on Instagram.

(BEGIN VIDEO CLIP)

DONALD TRUMP (R), PRESUMPTIVE PRESIDENTIAL CANDIDATE: Hillary Clinton's only right about one thing, I understand debt and how to handle it. I have made a fortune with debt. But debt for this country is a disaster. And Obama has piled it on and she has been there watching.

(END VIDEO CLIP)

O'REILLY: Now, we can expect stuff like this almost daily until November. Some of it will be headache-inducing. Tomorrow Donald Trump makes a speech here in New York City and you know he's going to hammer Mrs. Clinton on economics. Both candidates understand that right now the race is fairly close and that has to worry Secretary Clinton. New CNN poll has Clinton ahead of Trump, 47 to 42 among registered voters. However, in Ohio, Quinnipiac poll shows the race is tied 40-40.

Pennsylvania is just about tied as well. Clinton 42, Trump 41. In Florida, Clinton leads Trump 47, 39. Trump needs to win all three of those states and his polling has been going south for the last three weeks. But Trump remains very competitive in Pennsylvania which has recently been a Democratic stronghold. So that's good news for him. Even though he has lost some ground in Florida, that state is fluid. Trump won big there in the Republican primary.

So, Hillary Clinton know she's has a lot of work to do to defeat Donald Trump who has made major mistakes but still in the game. Talking points believes that the conventions will not be very influential this year, meaning not a lot of minds are going to be changed there. The big event will be the first presidential debate September 26th in Dayton, Ohio. Whoever wins that debate, likely to be president. Especially if they win it decisively.

The other debates not going to matter that much. Polls say about 22 percent of Americans have not yet made up their minds. That's a very low number this far away from Election Day. But that 22 percent will decide things. And that's “The Memo”.