Speaking to Oprah Winfrey, the president was asked what grade he should receive after 11 months in office.




OBAMA: Yeah. I, I mean, I think that we have inherited the biggest set of challenges of any president since Franklin Delano Roosevelt.

WINFREY: So B+. What could you have done better?

OBAMA: Well, B+ because of the things that are undone.


OBAMA: Health care is not yet signed. If I get health care passed, we tip into A-.


"Talking Points" is not surprised by Mr. Obama's B+ posture. He's always been a confident man, a person who believes he is fighting the good fight. But the president has to know that many Americans are losing confidence in his administration.

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The latest Rasmussen Daily Tracking Poll says that 42 percent of American voters now strongly disprove of the president's job performance. Just 24 percent strongly approve.

In addition, 52 percent of Americans now say global warming is not caused by human activity. Just 37 percent say it is. Twelve percent aren't sure. So another big Obama cause is sliding.

Now, Sunday night on "60 Minutes," the president expressed anger with the banking industry.


OBAMA: I did not run for office to be helping out a bunch of, you know, fat cat bankers on Wall Street. You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it's gone through in decades, and you guys caused the problem, and we've got 10 percent unemployment. Why do you think people might be a little frustrated?


In theory, Mr. Obama is correct. Any American company receiving government handouts can't be giving large bonuses to employees. It's simply unacceptable. Also, the entire financial community should be sensitive to the fact that many Americans are suffering.

Again, the president is correct to point that out.

Right now, the Obama administration wants more regulation over banking and financial transactions. In theory, that sounds good. But remember the Barney Frank-Fannie Mae-Freddie Mac debacle. The feds do not have a great track record in the financial arena. We owe $12 trillion.

So this might just be hype by President Obama in attempt to rally the folks.

Now last week on "Good Morning America," I graded the president this way: B on jobs, C on Afghanistan, D on health care. Even though some Obama detractors objected to the jobs grade, I stand by it. Stats show the job situation was much better last month than earlier this year. Much better.

It is important to be fair to Barack Obama, because if you hate him then legitimate criticism is brushed aside. The man has done some things correct.

However, two huge problems loom: out of control spending, which could absolutely bankrupt the nation, and the Iranian nuclear threat. Those issues along with the health care chaos will most likely define Barack Obama in 2010.

And that's "The Memo."

Pinheads & Patriots

One of the most successful writers in America, Stephen King, lives in Maine. He's very loyal to his state.

This Christmastime, Mr. King and his wife are paying for 150 members of the Maine National Guard to come home for the holidays. The soldiers are currently training in Indiana and are due to deploy to Afghanistan next month.

For this generous gesture, Stephen King and his wife are patriots.

On the pinhead front, it's almost too easy, but welcome back, Roseanne, who seems to be obsessed with Sarah Palin.

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ROSEANNE, COMEDIAN: She's like a slave to these, you know, right-wing men. That's like the only way a right-wing woman can make it, you know.

JOY BEHAR, HOST, "THE JOY BEHAR SHOW": Really? You think so?

ROSEANNE: The only way a woman can make it in the right wing or the conservative, whatever the hell you want to call it, Republican, is to be against all other women. And that is what she does.


Along with Rosie O'Donnell, we are proud to induct Roseanne into the "Pinhead Hall of Fame."

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