As we've pointed out, the left-wing media is spinning many policy issues negative until Barack Obama takes office next month. Then positive stories will begin to appear. Just wait and see.

By ramping up the negative, the media can provide Obama with a cushion on the economy, Afghanistan, Iraq and other difficult problems. After all, if Bush screwed things up so bad, nothing will be Obama's fault until at least 2015. That's the strategy.

By the way, President-elect Obama has nothing to do with any of this. He just continues to be the beneficiary of an ideological press that loves him.

However, by spinning the economy negative, the media is now hurting you.

Take a look at this headline in Monday's New York Times: "In String of Bad News, Omens of a Long Recession." That's what The Times puts out there nearly everyday.

But some understand what's going on. Times columnist David Carr's headline Monday is: "Stoking Fear Everywhere You Look." Carr, with whom we've had some disagreements, puts forth that the media's relentless negativity on the economy is frightening the folks. Thus the media itself is actually hurting the economy.

That's not to say the economy isn't a disaster. It is. That's on President Bush and both political parties, as "Points" has pointed out time and again. But there is some good news that is largely unreported.

According to the Maxim Group, which analyzed early Christmas sales, Americans actually spent more this year in a recession than they did last year in the days following Thanksgiving. That should have been page one news everywhere.

According to our BillOReilly.com poll, about 70 percent of you have been hurt by the recession. Thirty percent have not been. I think that reflects the nation as well.

So what should we do?

Well, those of us who have secure jobs should buy local, help the small business folks in your town. Also, we should tip generously this Christmas season and give as much to charity as we can.

For those who are getting hammered, keep the faith. Work hard, save as much as you can, and consider other options if you are in danger. If you have to drive a cab, drive one. If you have to take a pay cut, take it. Things will get better, so just try to break even right now.

Finally, tell the kids what's happening. Many American children are greedy and selfish, unaware of how hard it is to make decent money in a competitive society. This recession should be a great learning experience for all of us.

And that's "The Memo."

Pinheads & Patriots

At the Kennedy Center Honors program this weekend in Washington, an amazing thing happened. President Bush and his arch critic, Barbra Streisand, got together.

Now, here's a scene that proves people who need people are the luckiest people in the world, and the way they were is not the way they are now, or something. In the past, Ms. Streisand has hammered Mr. Bush for just about everything, but getting the national award might have changed the dynamic. Smiles all around.

We, however, are not really buying into this, but we don't want to sound unpatriotic.

On the pinhead front, millions of people are watching a 5-year-old boy and a baby interact on the Net.

Click here to watch "Pinheads & Patriots."


UNIDENTIFIED MALE: Ouch. Ouch. Ouch, Charlie. Ouch! Charlie, that really hurts.


So who's the pinhead? Not the kids, even though the 5-year-old desperately needs to wise up. It's the millions of folks seeking that out.

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