By Bill O'Reilly

Politicians have to make compromises, and therefore most every one of them can be accused of flip-flopping from time to time. But President Obama has capitulated on major points, some of which are core value situations.

Item: On August 1, 2007, Mr. Obama said this:

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PRESIDENT OBAMA: As president, I will close Guantanamo, reject the Military Commissions Act and adhere to the Geneva Conventions.

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But on Monday, the president folded, and terrorists at Gitmo will now be tried in front of military tribunals.

Item: tax cuts:

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OBAMA: As I said before, I would roll back the Bush tax cuts for those making over $250,000.

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But that did not happen. The president compromised, and the Bush tax policy remains in play.

Item: Again in 2007, Mr. Obama said this to The Boston Globe:

"The president does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation."

But in Libya, the president took action without congressional approval, ordering American warplanes to bomb that country.

So you can see that President Obama has changed his mind on some very important issues. The question: Will that hurt him in 2012?

If you want a good laugh, read the editorials in The New York Times and The Wall Street Journal on the Gitmo situation. The Times is crushed. The Journal is elated.

But you have to wonder how Mr. Obama's left-wing supporters are evaluating his walk-backs. I mean, you almost feel sorry for those people at The New York Times. They are lamenting, wailing. Their guy is not doing the liberal thing. If Obamacare is thrown out, the left will have pretty much lost everything.

The why behind all this is that President Obama badly underestimated the American public. We are a center-right nation. Most of us want a tough policy against terrorists. We want lower taxes for everybody. And we want a president who will stand up for American exceptionalism. If Mr. Obama can read the polls, he has to understand that.

His policy of civilian trials for terrorists, rejected by most Americans. His spending policies, rejected. His tax the rich mantra, rejected. And his contradictory foreign policy has confused many Americans.

If Mr. Obama wants to be re-elected, he has to get on the right side of the folks. That's why he has reversed course. That's why the terrorists will now be dealt with by the military.

And that's "The Memo."

Pinheads & Patriots

Tuesday morning I appeared on the "Imus" radio program, and we discussed Donald Trump.

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O'REILLY: Look, Trump doesn't like to be criticized. Look at the Rosie O'Donnell thing. Remember that?

DON IMUS, RADIO TALK SHOW HOST: Yes. That was inexcusable to go after her like that. That was stupid.

O'REILLY: Yes, but the reason that I'm considering -- considering possibly voting for Donald Trump is that he will deport Rosie O'Donnell.

IMUS: Wait a minute. I like her. You don't like her?

O'REILLY: You can like her in Finland.

(END VIDEO CLIP)

So is that dialogue pinheaded or patriotic? Please vote on BillOReilly.com.

Monday night we served up Meat Loaf:

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MEAT LOAF, SINGER/ACTOR: I bought those (EXPLETIVE DELETED) sponges. Part of that paint is mine. I'm (EXPLETIVE DELETED) sick and tired of -- (EXPLETIVE DELETED) you, (EXPLETIVE DELETED).

UNIDENTIFIED MALE: No, no, no.

MEAT LOAF: You look in my eyes. I am the last person in the (EXPLETIVE DELETED) world you ever (EXPLETIVE DELETED) want to (EXPLETIVE DELETED) with!

(END VIDEO CLIP)

I'm frightened. I don't know about you. Eighty-eight percent of you believe the Loaf man is a pinhead; 12 percent admire his pluck and say he is a patriot.

— 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.