Updated

BY BILL O'REILLY

A few months ago on this broadcast we had a debate on whether President Obama would move to the center in light of his falling poll numbers. Well, that question has now been answered.

Mr. Obama is not moving to the center. He's moving further left. Recently, the term "Progressive Values" has been used more and more by the president's allies in the media and on Capitol Hill. So, what exactly are progressive values? Well, the over arch is big government. Mr. Obama firmly believes that he can change American society for the better by regulating capitalism and taxation through big government mandates.

The president is a true believer. He sees American society as somewhat unjust. But, the rich have too much and that working Americans don't have a level playing field. So, the president is committed to changing that system, and he doesn't seem to care whether his policies are popular or not.

Now, whether you agree or disagree with the president, you have to admire his stand on principle. Unfortunately, I believe those progressive principles will lead the country to disaster. So, let's get specific. Progressives often see America as a bully, too big, too powerful, too aggressive. Progressives want open immigration. They want a foreign policy based upon peace at pretty much any price, and they want the government to provide things like housing, health care, decent food and even cash to those who cannot or will not earn a decent living.

Now, that's the heart of the progressive philosophy. If you understand American history, however, you know that goes against how this country has traditionally been managed. The founding fathers set up a competitive society where individual freedom, not government oversight was paramount. But Mr. Obama apparently believes that individual freedom has led to an unjust society. This is apparently yesterday in his rousing speech at the University of Wisconsin.

(BEGIN VIDEOTAPE)

BARACK OBAMA PRESIDENT OF THE UNITED STATES: Slaves sitting around a fire, singing freedom songs, they weren't sure when slavery would end, but they understand it was going to end. When women were out there marching for the right to vote, they weren't sure when it was going to happen but they kept on going!

(APPLAUSE)

When workers were organizing for the right to organize, and we're being intimidated, they weren't sure when change was going to come, but they knew it was going to come. And, I am telling you, Wisconsin, we are bringing about change and progress is going come, but you got to stick with me. You can't lose heart.

(END VIDEOTAPE)

Now, that is the president's rallying cry going into the November elections that he will bring about social justice. That's the code for change. We just have to be patient. Problem is social justice will most likely bankrupt the United States. We simply cannot afford the society Mr. Obama envisions. In a perfect world, everyone would have a nice house, good food, a good education.

Progressives believe that vision can become reality if only a huge magnificent government would impose the dream. And, it looks like Mr. Obama is going to try. And, that's "The Memo."

PINHEADS & PATRIOTS

And finally, "Pinheads & Patriots." For some reason my name keeps coming up on the Letterman program. Here's what happened last night.

(BEGIN VIDEO CLIP)

DAVID LETTERMAN: Bill O'Reilly, you've been on his show a few times. He's been on your show. He's been on my show. And I -- he's a likeable fellow.

JON STEWART: Very likeable fellow.

LETTERMAN: But he doesn't -- he doesn't sort of...

STEWART: I believe that's the set-up.

LETTERMAN: Yes. But we know he doesn't believe what he says?

STEWART: No, I believe. You know, I think he's a fair-minded individual who is -- he has his own bellicosity about certain issues. But in the -- river he swims in, he's the most -- he's the, as they say, the thinnest kid at fat camp. He is the sluttiest nun at the convent.

LETTERMAN: And then...

(END VIDEO CLIP)

Stewart, I should say, will probably go to hell for the nun comment. But there's nothing I can do about it. Is there a pinhead or patriot in what exchange? You, of course, can make the call.