By Bill O'Reilly

Right now there are more than 200 million eligible voters in the U.S.A. Now I don't want to be arrogant here, I don't want to be supercilious. But I estimate that at least half of those folks no idea, none about what's going on in Washington. And their vote counts just as much as my vote or your vote and we take the time to study the issues.

Therefore presidential candidates know they can get some votes with rhetoric alone. Here is the President on "60 Minutes" last night.

(BEGIN VIDEO CLIP)

STEVE KROFT, CBS NEWS: What did you accomplish?

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: Not only saving this country from a great depression. Not only saving the auto industry, but putting in place a system in which we're going to start lowering health care costs and you're never going to go bankrupt because you get sick or somebody in your family gets sick.

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O'REILLY: Now, according to a new CBS News poll which is usually friendly to the President; 54 percent of Americans do not believe... do not believe Mr. Obama deserves to be re-elected; just 41 percent say he does. But in the same poll, 44 percent approve of the job the President is doing; 46 disapprove so you can see the poll numbers don't add up. My conclusion, anything can happen next year, anything because many voters are confused.

The President himself would rather run against Newt Gingrich because then the Democrats can make the election about Newt rather than the economy and the leadership of Barack Obama. If Mitt Romney opposes the President it's harder to do that and Romney would pound economics all day long.

Last night the President said this about his competition.

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OBAMA: It doesn't really matter who the nominee is going to be. The core philosophy that they are expressing is the same. And the contrast in visions between where I want to take the country and where they say they want to take the country is going to be stark and the American people are going to have a good choice and it's going to be a good debate.

(END VIDEO CLIP)

O'REILLY: That is absolutely true. Americans will face a stark choice next November. President Obama obviously doesn't want to cut government spending very much despite the fact we have more than $15 trillion dollars in debt. Whoever the Republican nominee will be will have to slash and burn at the federal level. And by the way, if any American thinks taxing the rich is going to bring down debt, "clueless" is the appropriate word.

It is all about core philosophy. Democrats want social justice. They want American power and money to subsidize those who do not have very much not only here in America but all around the world. Republicans are big on self-reliance.

Therefore, President Obama does have a constituency that will vote for him no matter what because they want stuff from the feds. And Mr. Obama is banking on that, despite the fact that there isn't any money left in the federal bank.

And that's "The Memo."

"Pinheads & Patriots."

Jay-Z is a rapper who is often associated with the far left, so we were surprised when he said this.

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JAY-Z, RAPPER: I wouldn't mind paying more taxes if it went to the things that really mattered. If it went to education and people in poverty and, you know, if it went to the right things. You know, I wouldn't mind.

I think it -- I think it should be more -- it should be clearly defined, you know, clearly defined, where all the money is being allocated. Because you can understand paying so much for taxes and then things not improving. You're like where is everything going to?

(END VIDEO CLIP)

O'REILLY: Right on, Jay-Z. You must be watching "The Factor." Tonight you are 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.