By Bill O'Reilly

Last night on "The Factor" Bernie Goldberg said this about the political media and President Obama.

(BEGIN VIDEO CLIP)

BERNIE GOLDBERG, FOX NEWS CONTRIBUTOR: So they drooled all over him four years ago and all they can find now are gaffes in Romney's trip. Look, obviously journalists are Barack Obama's most loyal base. They will not abandon him and they've got too much invested in him.

(END VIDEO CLIP)

O'REILLY: And what Bernie says is true.

Here is the backup, 2004 Kerry versus Bush. University of Connecticut study of 300 journalists nationwide found 52 percent supported Kerry, just 19 percent favored Bush.

2007, the Pew Research Center did a survey of 585 journalists; it found 32 percent of them describe themselves as liberal, eight percent, eight percent say they are conservative, the rest claim to be moderate.

In 2008, another Pew survey assessed the tone of the presidential campaign between Barack Obama and John McCain. It found that fewer than a third of the stories about Mr. Obama were negative. While more than half the stories about John McCain cast him in a negative light or negative. Even worse, less than 20 percent of the stories about Senator McCain, a certified war hero were positive, less than 20 percent; more than 33 percent of the reports on Mr. Obama were favorable.

So you can see the press in America clearly favors the more liberal candidate and has for decades. Now what does this mean in the upcoming election?

Well, first of all it gives the Democrats a major advantage. Because their agenda whether it's bashing Mitt Romney or promoting the President will be covered far more extensively than the Republican agenda.

Second, stories that make the President look bad will be played down in the national press. While anything Mitt Romney does will be described as a gaffe, a mistake or just plain dumb.

The cumulative effect of this will be to influence voters who do not pay attention. Those of you who watch "The Factor" and listen closely to what the candidates are saying will not likely be influenced by the media. We know that, but the folks who spend most of their time in recreational pursuits could be very much influenced by the pro-Obama coverage they hear here and there. "Talking Points" estimates that will give the President about three percent or four percent of the popular vote.

Finally why are most journalists liberal? Peer pressure the main reason, Bernie Goldberg and I worked at CBS News at the same time and if you were not politically correct, if you were traditional you were suspect in the eyes of management. And that included Dan Rather.

When I worked at ABC News, things weren't as bad because Peter Jennings did not like blatant partisanship although he himself was a liberal thinker.

So, in order to prosper in their careers, many journalists believe they have to toe the liberal party line. The second thing is they want to toe the liberal party line because a lot of journalists are educated in liberal universities and brought up on liberal environments. Not a lot of Levittown or Abilene guys in the national press.

No spin. And that's "The Memo."

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