President Obama told the nation Wednesday he will spend as much as $900 billion to try to stimulate the economy and get us out of recession.

Last week, another 70,000 jobs were lost.

There's no question: The USA is in major economic trouble. Any debate about the worthiness of the stimulus is useless now because it's going to happen. President Obama is staking his entire future on it.

But what is vitally important is that the money is spent well and honestly. President Obama promises to do that and says you can follow all of the spending on recovery.gov.

Now "Talking Points" is skeptical that the feds will spend our tax dollars wisely because in the past they have not. So Paul Revere, that's me, has an obligation to suggest some constructive ideas to help the process, and here they are:

We support the $20 billion tax cut for small business, and we support tax cuts for working Americans and a one-time federal rebate of a few hundred dollars to workers.

I know that didn't work when President Bush tried it last spring, but people are hurting and will likely spend the money.

"Talking Points" also supports federal money to build infrastructure, improve roads, bridges, the national grid. That will put people to work and make the nation better.

On the other side, President Obama has got to knock off the nonsense when it comes to ideological spending and nanny state building.

$400 million for global warming research? Are you kidding me? No. $2.4 billion for carbon capture projects? That doesn't stimulate the economy. In fact, there are billions in the stimulus package for environmental stuff like clean oceans. Those things are worthy, but they should be considered in a separate bill.

Another $650 million for digital TV conversion coupons? That's insane. $150 million for the Smithsonian? No. $1 billion for Amtrak? Hey, Mr. President, sell Amtrak. It's been a loser for 40 years. Let the private industry run it.

And then there are billions for increased food stamps, child care, and other entitlements that have nothing to do with stimulating the economy.

Nancy Pelosi and her band of merry liberals want the federal stimulus bill to stimulate the nanny state. Social engineering should be a separate matter, Ms. Speaker. Don't disguise it as economic stimulus.

President Obama promises transparency and honest government. OK. Let's start with the stimulus bill.

And that's "The Memo."

Pinheads & Patriots

Speaking to the Daily Mail newspaper in London, actress Catherine Zeta-Jones says the reason she's so good-looking is because of beer. Ms. Jones put forth that she uses honey and beer to condition her hair, giving it a silky yet wobbly look, if you know what I mean.

Now, if Ms. Jones is using a domestic beer, she's a patriot. If it's a foreign brand, there may be trouble.

On the pinhead front, Martha Stewart has entered the world of dog yoga.

Click here to watch "Pinheads & Patriots"!


MARTHA STEWART: What do you call it? Doga?



UNIDENTIFIED FEMALE: You can do this two ways. With a larger dog, you would have them just in front of you, and you would drop your head to rest your head on the dog. Because Courage is so far away from the floor, what I can do is, really supporting the dog in the front and back, lifting him up, I'm going to use him like I would use a sandbag or a weight and just take...

STEWART: Try it with your 90-pound collie dog.


If I were that dog, I would take a chunk out of that woman. Is there some pinhead stuff in there? I believe so.

You can catch Bill O'Reilly's "Talking Points Memo" and "Pinheads & Patriots" 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