By Bill O'Reilly

Conservatives like Congressman Ryan, liberals don't. So it is Independent voters who Mr. Ryan must persuade, if he is going to help Mitt Romney become president. The Congressman is a good choice for Romney because it makes the election a simple decision. Do you want a free market-driven economy and fiscal discipline by the federal government or -- or, do you want the feds to exert even more control over the economy in order to provide social justice? That's the decision.

For Paul Ryan the choice is clear.

(BEGIN VIDEO CLIP)

PAUL RYAN: This is the worst economy recovery in 70 years. Unemployment has been above eight percent for more than three years... the longest run since the Great Depression.

Families are hurting. We have the largest deficits and the biggest federal government since World War II. Whatever the explanations, whatever the excuse is, this is a record of failure.

(END VIDEO CLIP)

O'REILLY: And that will be the theme of the Romney/Ryan ticket, that the Obama administration has failed economically; again, a very simple message. The President will rebut by saying that the Republican economic vision will actually make things worse and that your security will be put in jeopardy by spending and tax cuts.

On the personal front, the President said this.

(BEGIN VIDEO CLIP)

PRESIDENT OBAMA: I welcome him to the race. Congress, Congressman Ryan is a decent man, he is a family man. He is an articulate spokesman for Governor Romney's vision. But, it's a vision that I fundamentally disagree with.

(END VIDEO CLIP)

O'REILLY: And that's true, Mr. Obama is a passionate liberal who is willing to lose the election rather than moderate his big government, big spending policies. And so the choice is clear. At least for those who pay attention.

But therein lies the proverbial rub. Most Americans are not paying attention. They do not understand how the debt affects them. How the private marketplace is under siege and how the country is heading toward bankruptcy. Therefore many voters will cast their ballot on emotion.

It is my job to neutralize that emotion by presenting you the facts thereby giving you decision-making currency. President Obama has been demonized by the right. Mitt Romney and Paul Ryan vilified by the left.

Today the "New York Times" called Mr. Ryan an extremist, an interesting choice of words from a newspaper that is avidly supporting, perhaps the most extreme economic policies in the nation's history. Never before has the federal government spent so much money and run up such a huge debt.

But it is on Paul Ryan himself to convince Independent voters that he is not extreme; that his vision for the country will ultimately help hard-working Americans.

Back in 2008, the McCain campaign avoided this program. They simply did not want the Senator or then Governor Palin to be subjected to tough questioning. That was a huge mistake.

Mitt Romney and President Obama have both appeared here on "The Factor" and were both treated respectfully. But both were held to account.

We hope in this election cycle all the candidates will answer the tough questions and that includes Vice President Biden who has been avoiding "The Factor." It is imperative that all the candidates dodge the dodge.

And that's "The Memo."

- You can catch Bill O'Reilly's "Talking Points Memo" 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.