By Bill O'Reilly

This week, the president will hold three town meetings around the country trying to sell his vision of a strong America based on responsible spending and "the social compact."

What's that?

First, the president talking about Republicans wanting to cut the budget:

(BEGIN VIDEO CLIP)

PRESIDENT OBAMA: This vision is less about reducing the deficit than it is about changing the basic social compact in America. And I don't think there is anything courageous about asking for sacrifice from those who can least afford it and don't have any clout on Capitol Hill. That's not a vision of the America I know.

(END VIDEO CLIP)

So again, what is the president talking about?

The social compact -- also called "The Social Contract" -- was made popular by French philosopher Jean-Jacques Rousseau in the 18th century. Basically, Rousseau says that a central government has an obligation to help its citizens in pretty much every way.

The dictionary definition of the term social compact is this: "an agreement entered into by individuals that results in the formation of the state or of organized society, the prime motive being the desire for protection, which entails the surrender of some or all personal liberties."

Very interesting. The desire for protection is not only against Al Qaeda or Attila the Hun, but also against starving or being homeless.

America largely avoided the social compact until the Great Depression of 1929. So many people were suffering that President Roosevelt began the entitlement society; that is direct federal help for those who were in trouble economically. In 1935, the Social Security Act was passed, providing money for the elderly.

Since that time, the federal government has grown enormously, and now America faces economic ruin because it owes more than $14 trillion. On Monday, the country's debt level was highlighted worldwide, resulting in a very bad day for the stock market.

But still, many Americans, including Mr. Obama, do not want to cut entitlement programs very much. This is the war that is raging throughout America. It is between conservatives, who emphasize personal responsibility and achievement, against liberals, who say the government must take from the wealthy and give to the poor.

So it will be interesting this week to see if President Obama can rally the country to support his vision of a strong social compact. He has compassion on his side. Few Americans want to see their fellow citizens suffer. But the president does have that fiscal responsibility issue haunting him because the country remains in dire trouble.

And that's "The Memo."

Pinheads & Patriots

Comedian Jerry Seinfeld was over in London a few days ago and said this about the royal couple's upcoming marriage:

(BEGIN VIDEO CLIP)

JERRY SEINFELD, COMEDIAN: It's an absurd act. You know, it's a dress-up. It's a classic English thing of "Let's play dress-up. Let's pretend these are special people." OK, we'll all pretend that. That's what theater is. That's why the British have the greatest theater in the world. They love to dress up, and they love to play pretend. And that's what the royal family is. It's a huge game of pretend. These aren't special people.

(END VIDEO CLIP)

So is Mr. Seinfeld a pinhead or a patriot for that assessment? Please vote on BillOReilly.com.

On Friday, we brought you Congressman Dennis Kucinich:

(BEGIN VIDEO CLIP)

REP. DENNIS KUCINICH, D-OHIO (SINGING): God bless America. Whenever I feel afraid, I hold my head erect.

JOHN OLIVER, "THE DAILY SHOW": How do you keep winning elections?

KUCINICH: You're going to have to ask Dennis.

(END VIDEO CLIP)

Well, 74 percent of you think the congressman is a pinhead for that bit; 26 percent say he is 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.