By Bill O'Reilly

The federal mortgage agencies Fannie Mae and Freddie Mac were set up to give working Americans a shot at owning a decent home. If you can't get a private mortgage, you can turn to Fannie or Freddie for help.

The feds do not run those agencies, but they do provide funding. When Fannie and Freddie went bankrupt a few years ago, the government gave them $156 billion to keep operating. All told, Fannie and Freddie still owe the U.S. taxpayer a whopping $141 billion.

But it gets worse.

Now CNN is reporting that executives at Fannie and Freddie are set to receive nearly $100 million in compensation from 2009 to the end of this year. $100 million. The two CEOs are set to receive about $12 million each for two years work.

So my question is simple because I am a simple man. Why aren't the "Occupy" loons demonstrating in front of Fannie Mae and Freddie Mac? Certainly the brass are one-percenters, and our tax dollars are paying these people. Also, they're not going to pay back the $141 billion that they owe the people, but they accept lavish salaries anyway.

This is why the bloated federal government is hosing all of us. This is why America now owes $15 trillion.

Fannie Mae and Freddie Mac should be abolished. We can't afford those agencies. We can't afford to pay the executives. Yes, some working Americans will have a tougher time getting mortgages, but, again, America is broke. We can't fund these things any longer.

The hypocrisy here is staggering. While the "Occupiers" concentrate on private industry, where money is earned in the marketplace, they totally overlook the largely liberal programs that have caused so much economic damage to America. This is why the "Occupy" protest is bogus. They don't care about lavish salaries the feds dole out. They want the government to give everybody money. The "Occupiers" despise the private sector. They want the feds to control the economy.

Next year Americans will have to make a decision whether to vote for the Democratic Party, which largely wants to continue the social justice madness, or vote for a rather chaotic Republican Party that says it wants smaller government, but who knows? Certainly President Bush the younger spent an unbelievable amount of money.

The election next year is not about President Obama or about his opponent; it's about saving the USA from economic collapse.

And that's "The Memo."

— 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.