Nancy Pelosi and Capitalism

By Bill O'Reilly

As you may know, many Americans believe that President Obama and some in the Democratic leadership lean toward a socialistic philosophy when it comes to economics. That charge has damaged Mr. Obama because we are a staunchly capitalistic country.

Now Speaker of the House Nancy Pelosi may have come out of the closet. Speaking before the United Steelworkers union on Monday, she said this:

(BEGIN VIDEO CLIP)

NANCY PELOSI, SPEAKER OF THE HOUSE: We are talking about addressing the disparity in our country of income, where the wealthy people continue to get wealthier and some other people are falling out of the middle class when we want to bring many more people into the middle class. But that disparity is not just about wages alone. That disparity is about ownership and equity. It's all about fairness in our country.

(END VIDEO CLIP)

Wow. That's some sound-bite. The speaker implying that private ownership and private property may not be sacrosanct in America. She seems to be calling for a government intervention into the private marketplace in order to spread wealth in a more just way.

To understand Ms. Pelosi's breathtaking statement, you have to know that there are some bad things about capitalism. The system is set up so that an individual can acquire a massive amount of money if he or she can figure out how to do that. The system also allows for people to fail. So you have winners and losers, sometimes in extreme degrees.

Nancy Pelosi and other liberal Americans seem to believe that the deck is stacked against most Americans when it comes to making money, and that the federal government has an obligation to regulate capitalism so everyone profits.

But that isn't capitalism. If the feds begin intruding on the private sector, you enter the socialistic arena.

That's where France and other Western European countries are. And, once again, on Tuesday we see the results of an entitlement society, as thousands of French people rioted in the streets because they don't want the retirement age raised from 60 to 62. Many French believe they are entitled to strict work limitations and generous pensions.

We Americans are different. Ever since George Washington was sworn in as president, we have been competing for our money, our benefits, our retirement. But now the speaker of the House says that system is no good, that Washington should decide what we get.

The Democratic Party will be destroyed if it embraces Ms. Pelosi's vision. Yes, she's a San Francisco liberal, but she's also the second most visible Democrat in the country next to the president, who has his own image problems when it comes to economics.

Finally, if you want to evaluate how effective the feds are in regulating capitalism, consider that the Obama administration has spent nearly $1 trillion to stimulate the economy. How's that working out?

And that's "The Memo."

Pinheads & Patriots

Actress Eva Longoria is now a rapper:

(BEGIN VIDEO CLIP)

EVA LONGORIA, ACTRESS: Yo, I'm Eva Longoria, and this is the story of one sweet home girl who comes from Astoria. I'm Latin, thighs like satin. I'm here to host. I ain't doing no chattin'. I'm on TV all over the world. A "Desperate Housewife" in high heels and pearls.

(END VIDEO CLIP)

Now you can decide if Ms. Longoria's rap was patriotic or pinheaded. Just go to BillOReilly.com and cast your vote. I'm going patriot on this.

Monday night we showed you "The O'Rodriguez Factor" on the "Jimmy Kimmel" program:

(BEGIN VIDEO CLIP)

GUILLERMO, "JIMMY KIMMEL LIVE": Tonight on "The O'Rodriguez Factory," piñatas. Piñatas are filled with candy. And who is filling these piñatas with candy? Mexicans! But who gets to eat these candies? White kids!

(END VIDEO CLIP)

Seventy-one percent thought it was pinheaded; 29 percent thought it was patriotic. I kind of liked it. I don't know.