Updated

By Bill O'Reilly

While many people are small balling President Obama's speech last night, "Talking Points" is taking a broader view on this 13th anniversary of the 9/11 attack, our thoughts are with the people who lost loved ones but we are also on preventing another terror attack.

The President's speech last night was ok. He says he'll finally confront the ISIS threat. Good. I hope the U.S.A. can destroy the killers. But the question is does the Obama administration really understand what is happening in the world? And that's debatable.

Listen to former White House spokesman, Jay Carney, now working at CNN.

(BEGIN VIDEO CLIP)

JAY CARNEY, CNN CONTRIBUTOR: I think the United States and a lot of the world was stunned by the rapidity with which ISIS was able to move into Iraq and take territory and the subsequent brutality that they have demonstrated.

(END VIDEO CLIP)

O'REILLY: But many were not stunned by the ISIS situation. I knew about it and many other Americans in the media and government saw the dramatic rise of Muslim terrorism inside Syria and all across the Middle East. So when Mr. Carney says everybody was surprised, that's a fable.

You may remember a couple years ago there was intense debate over whether to arm so-called moderate Muslim rebels in Syria. They would fight not only against the tyrant Assad but also against al Qaeda and ISIS who were embedded in Syria. But President Obama said no, claiming he didn't know enough about the moderate rebels.

(BEGIN VIDEO CLIP)

MCCAIN: Come on, Jay. We knew all about them then. You just didn't choose to know. I was there in Syria. We knew them. Come on, you guys were the ones -- it's your boss is the one that when the entire national security team wanted to arm and train them, that he turned them down, Mr. Carney, after --

CARNEY: Senator, look --

MCCAIN: The fact is --

(CROSSTALK)

CARNEY: We have to agree to disagree on this.

MCCAIN: No, facts are stubborn, Mr. Carney. And that is, his entire national security team including your Secretary of State said we want to arm and train and equip these people and he made the unilateral decision to turn them down. And the fact that they didn't leave a residual force in Iraq overruling all of his military advisors is the reason why we're facing ISIS today.

(END VIDEO CLIP)

O'REILLY: Of course, he -- Senator McCain is referring to -- is President Obama. "Talking Points" can say with certainty that there is deep anger within the U.S. intelligence community because President Obama was indeed warned about ISIS. He was advised explicitly that withdrawing all troops from Iraq would cause chaos and now look what we have.

So again, the question is does the Obama administration really know what is going on? The next five months might tell a tale on that. If the terrorism situation gets worse, the President's legacy is doomed.

And that's "The Memo".