By Bill O'Reilly

As expected, Gov. Chris Christie announced that he is not running for president. A few days ago, "Talking Points" advised the governor to stay in New Jersey and clean that state up before he ventures into presidential territory.

Christie's decision was very good news for the rest of the GOP field, as he would have been a formidable opponent. Americans are looking for straight talk and no nonsense, which Mr. Christie provides in large doses.

A new Washington Post-ABC News poll asked likely Republican voters who they are supporting. Twenty-five percent say Mitt Romney, with Herman Cain and Rick Perry tied at 16 percent. Mr. Cain is up 12 points in less than a month, with Gov. Perry down 13 points. So you can see where some conservative voters are going.

Mr. Cain is a compelling political figure. He comes across authoritative but friendly and is the only candidate to specifically talk about tax reform with his 999 campaign. Gov. Perry is another story. Americans were willing to give him the benefit of the doubt, but he has been derailed by his stance on illegal immigration and some other issues.

Also, Mr. Perry has not made himself available to forums like "The Factor," so it's hard for Americans to get to know him. I talked with the governor on the phone. He was very polite and said he would come on "The Factor." A good time might be soon, governor.

On the Democratic side, things just keep getting worse because the economy keeps getting worse. It is hard to see how President Obama can make a comeback unless jobs are magically created and the stock market goes up a thousand points.

However, Mr. Obama remains steadfast in his belief that the federal government can control the economy and has an obligation to spend a massive amount of money speculating on things like green energy:

(BEGIN VIDEO CLIP)

PRESIDENT OBAMA: If we want to compete with other countries that are heavily subsidizing the industries of the future, we've got to make sure that our guys here in the United States of America at least have a shot. Now, there are going to be some failures, and Solyndra is an example.

GEORGE STEPHANOPOULOS, ABC NEWS: And you were getting warnings not to back that company up, not to visit.

OBAMA: Well, you know, hindsight is always 20/20. It went through the regular review process and people felt like this was a good bet.

(END VIDEO CLIP)

There's a problem. Mr. Obama's top economic advisers, like Larry Summers and Tim Geithner, did not think it was a good bet, and that's on the record. So independent-minded Americans are left with the feeling that bad decisions are being made in the White House and all of us are paying for that.

The president is correct when he says that America must compete worldwide, and in private industry we do. But the feds simply do not have enough money to pay the bills and then speculate with billions of taxpayer dollars on green energy products. Somehow Mr. Obama does not get that.

The presidential election will be held in about 13 months. If it were held tomorrow, Mitt Romney would probably be elected president.

And that's "The Memo."

Pinheads and Patriots

Once again, former Speaker of the House Nancy Pelosi is center stage:

(BEGIN VIDEO CLIP)

REP. NANCY PELOSI, D-CALIF., MINORITY LEADER: Most people in the country, no matter how poor they are, believe they are in the middle class, and that's where they want to be and we have to honor that aspiration. So we think that they can say all they want about class warfare. Am I missing something here?

(END VIDEO CLIP)

I have no idea, ladies and gentlemen, no idea what Mrs. Pelosi is talking about. And yes, you are missing something, congresswoman. You are missing a declarative sentence. What the heck are you saying? I don't know. And if you know, please e-mail me and explain because I may be a pinhead. I couldn't follow it. But at this juncture, Congresswoman Pelosi's syntax is so horrible, she has achieved pinheaded status. I don't want to be a snob here, but I listened to that five times. No idea what she's saying.

— 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.