By Bill O'Reilly

As you may know I'm a one-percenter. I've been lucky in my career. I've worked my way up to affluent status. More than 30 years ago I started in Scranton, Pennsylvania at 150 bucks a week plus I made $20 extra writing gag lines for "Uncle Ted's Ghoul School". All of that I chronicled in my book "A Bold Fresh Piece of Humanity".

Now this week my crack accountant who shall remain nameless so he's not indicted handed me my tax bill. Let me put it this way if my father were still alive today, he would get a heart attack just looking at this. But that's fine. I love my country. I want it to be strong and the government needs money to accomplish that. The problem I have is that much of my tax money and yours too is absolutely wasted.

The outgoing doctor in charge of Medicare, Donald Berwick, told the press last week he believes up to 30 percent of Medicare payments are wasted, either stolen or unnecessary... 30 percent. That's about $168 billion dollars down the drain every year. And you can carry that figure over to just about every federal program.

Look at all the money wasted in the Solyndra debacle and we can't even measure the chaos in the welfare system.

What American politicians have done is set up complicated programs that are largely unsupervised. There's nobody watching the trillions of dollars spent and the wise guys know it.

Now the feds in New York State want even more of my money. But are they willing to watch how they spend it? No. They are not. It's much easier just to tell working class people and the poor that rich guys like O'Reilly are going to pay the bill so you don't have to worry about it.

Well, with more than $15 trillion dollars of debt, every American should be worried. Again, I don't mind paying an enormous sum to Caesar. That is my responsibility as an honest citizen. But I am outraged, outraged that our political system refuses to watch where that money goes.

And that's "The Memo."

Pinheads & Patriots.

Very frustrating for some liberal Americans to acknowledge the fact that Fox News dominates prime-time TV news coverage. There's simply no one even close. So the lefties run around, spouting propaganda, and some of it is pretty amusing.

(BEGIN VIDEO CLIP)

JESSE LAGRECA: The reality is Fox News is irrelevant. We've totally moved beyond them.

I consider myself a student. So to me it's about education. And I think Fox News would like to get rid of every book except for Ayn Rand's collected works and the Bible.

(END VIDEO CLIP)

O'REILLY: Sure. Now, Mr. LaGreca is obviously a pinhead, but not because he doesn't like Fox News. It's because he simply will not tell the truth.

And here's some advice to you far-left loons, OK? The reason you have zero credibility is because of dopey stuff like that. You'd be far better off to say, "Fox News does very well. We don't agree with it, but facts are facts." Then you might get some respect.

— 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.