By Bill O'Reilly

No matter how the debt debate turns out, liberal America will lose. "Talking Points" said that last week, and Dick Morris disagreed. But I am more firmly convinced than ever that the folks understand it is not good for the nation to borrow another $2 trillion on top of the $14.5 trillion we already owe. I think even the dimmest among us knows that is bad.

And who wants to keep borrowing? Well, that would be the left and its leader President Obama.

Smart people on the left understand the situation. The Conference Board's Consumer Confidence Index in America stands right now at 58.5. That is a catastrophe. The historical barometer for a president being re-elected is about 100 in the Consumer Confidence Index. So it's easy to see the trouble that Mr. Obama is facing.

In the face of that, the committed-left media is demonizing their opposition, conservative Republicans:

(BEGIN VIDEO CLIP)

CHRIS MATTHEWS, MSNBC HOST: I think I know I can go back to who is the high priestess or the high priest of this Tea Party caucus, Michele Bachmann. I think she is a true believer. I want to show you something now on "O'Reilly," which is where you go when you want to speak their religion, when you want to do the whole thing with the vestments on and everything. When you want to go far-right, I think you go over to Bill and check out. Here is Michele Bachmann.

UNIDENTIFIED MALE: I can almost smell the incense.

(END VIDEO CLIP)

Do you have any idea what they're talking about? I don't. Of course Michele Bachmann is a true believer. She's a committed conservative. No one disputes that.

The question then becomes: Why is the liberal media obsessed with Michele Bachmann and, for that matter, Sarah Palin? Why?

The answer is a bit complicated. The left is extremely disappointed that President Obama's economic policies have failed so far. Liberals are frustrated, and when people get frustrated, they tend to lash out. Mrs. Bachmann and Mrs. Palin are easy targets because they are outspoken in their opposition to the left, thus the lashing.

But again, it's mindless. The real deal is that most Americans now believe President Obama has lost control of the economy. Continuing to hammer Michele Bachmann is not going to change that.

And that's "The Memo."

Pinheads & Patriots

Forty-six-year-old Oscar Navarro was stung to death by bees in Tucson, Arizona, this week. Our condolences to his family.

So we wanted to know which critters are the most dangerous in the country, and we did the research. Here's the scorecard:

Poisonous snakes and lizards killed seven Americans in 2007, the last year stats are available.

Spiders killed eight Americans.

Bees and wasps, 54 fatalities.

Dogs killed 32 Americans.

Other mammals, 76 fatalities.

In 2007, bears killed just one person, and there were no deaths from shark attacks in U.S. waters.

Be careful when confronting nature. That's the smart and patriotic thing to do.

— 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.