By Bill O'Reilly

The reason the debt deal can't get done is because of pressure on both President Obama and Speaker of the House John Boehner. Last Thursday, we went over the Tea Party objections to any debt compromise, and some of you were angry with that analysis. But as Charles Krauthammer reiterated Tuesday night, the Tea Party is a problem when compromise becomes necessary.

President Obama has the same kind of problem from the far left. The insidious MoveOn organization is actually threatening any Democrat who doesn't toe the far-left line, that is raise taxes. President Obama is also being intimidated by the far left:

(BEGIN VIDEO CLIP)

BILL MAHER, HOST, "REAL TIME WITH BILL MAHER": I just don't get this giving away the store. I mean, I never thought he would be caving on the revenue side of it. I thought that was his line in the sand. And he has this reputation as a guy who is always caving in to the Republicans.

REP. NANCY PELOSI, D-CALIF., MINORITY LEADER: They want to destroy food safety, clean air, clean water, the Department of Education. They want to destroy your rights. They do not like government.

SEN. BERNIE SANDERS, I-VT.: There are millions of Americans who are deeply disappointed in the president, who cannot believe how weak he has been for whatever reason in negotiating with Republicans, and there is deep disappointment.

(END VIDEO CLIP)

There may be deep disappointment in the world of Bernie Sanders, but nearly two-thirds of the American public, according to the polls -- two-thirds -- want President Obama to get a deal done.

And the president's image is taking an enormous hit. Not only are his poll numbers falling along with the Dow, but the National Journal reports that states like Ohio, Michigan, Iowa and New Hampshire, all won by Obama last time around, are now turning.

Karl Rove says that there are just 14 battleground states where the next presidential vote is up for grabs, and most of those states are now leaning against Barack Obama. In fact, Mr. Rove predicts Republicans will win Indiana, Virginia, North Carolina, Ohio and Florida, and then will need just one more battleground state to defeat the president.

So if Mr. Rove is correct, Barack Obama's future in the White House is shaky to say the least. The president must know that, so he must walk away from the far left, just as Speaker Boehner has got to put the far right on the shelf.

Independent Americans will decide the next presidential election, not MoveOn, not the Tea Party. And the independents want the debt chaos to stop.

In the end, it is Mr. Obama who has the most to lose if compromise is not reached. Unless he wants to move on from the Oval Office, he'd better get a deal done.

And that's "The Memo."

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