Bill O'Reilly: Jobs Versus Debt
By: StaffOctober 7, 2011
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By Bill O'Reilly

President Obama held a press conference Thursday basically to put the Republican Party on the defensive about job creation.


BARACK OBAMA, PRESIDENT OF THE UNITED STATES: And the reason I keep going around the country talking about this jobs bill is because people really need help right now. Our economy really needs a jolt right now. This is not a game. This is not the time for the usual political gridlock.


The problem for Mr. Obama is spending another half trillion dollars in order to create more jobs. That's what he wants to do.

As the national debt approaches $15 trillion, the CNS News Service reports that the Obama Administration has added more debt in less than three years than every President from George Washington to Bush the Elder added. Think about that -- three years versus 204 years.

To be fair, the debt analysis has not considered the inflation factor, but everybody should be getting the message: Mr. Obama is the biggest spending president in history.

But he is correct when he says the American economy needs jobs. It does. No question. Republicans believe tax cuts on consumers and business, combined with deregulation in some industries would stimulate the economy without more spending. So that's the impasse, the gridlock. Democrats and President Obama want to spend tax dollars to create jobs. Republicans want to assist business and promote consumption.

It is true as the President said that the payroll tax cut provides American workers with more money but it also increases debt. And increased taxes on the rich will not mitigate that very much. "Talking Points" has said many times the feds have to tighten up their crazy spending before raising taxes on anybody.

Another example Thursday, there are now accusations that a Justice Department official Darryl Foster spent thousands of dollars dating and charged it to the taxpayer. This goes right alongside the $16 muffins we told you about last week.

And then there is Solyndra and the green jobs money pit in general. According to the Department of Labor, the U.S. government spent about $170 million on green jobs training but very few people actually got jobs.

So it comes down to this: Billions of taxpayer dollars spent, very little to show for it. Nevertheless, Mr. Obama is not changing course.


OBAMA: The overall portfolio has been successful. It has allowed us to help companies, for example, start advanced battery manufacturing here in the United States. It's helped to create jobs.


But not enough jobs, Mr. President, for the money spent.

And that's "The Memo."


As you may know, Friday is the 15th anniversary of Fox News. And there's a big special at 10 p.m.

As part of that special, Bill Hemmer interviewed me.


BILL HEMMER, FOX NEWS ANCHOR: You also have fun.

BILL O'REILLY, FOX NEWS HOST: You've got a great sense of humor.

A lot of the stuff is really stupid and dumb and we're going to mock it. We're going to make fun of it. The people I have on all have a sense of humor. I sass them. They sass me back. People like that.

The thing I like about you is you do take cheap shots all the time, but you defend those cheap shots.

JON STEWART, HOST, COMEDY CENTRAL'S "THE DAILY SHOW": That's not the only thing you like. I'm like a shot of Levittown right in your ass like a B 12. Boom.

O'REILLY: I think I'm going to commit suicide.


Now, that special is very entertaining. And we think you're going to like it. And our -- our 15th anniversary, everyone here at FNC is a patriot.

And we're going to have a big thing in Boston next Tuesday to celebrate "The Factor" and the 15th. We're going to have a really interesting piece of videotape to show you about that, so we hope you check it out.

- 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 Send your comments to:

Transcript Date: 
Thu, 10/06/2011
Transcript Show Name: 
O'Reilly Factor