Bill O’Reilly believes that President Obama wants to take from the rich and give to poor by “masking payments for more education” in some clever ruse. Is he a mad man? Jeff Koopersmith says you can bank on it -- and explains why.

f William O’Reilly thinks President Obama is a con man, what does that make O’Reilly himself who is not much more than a willing an overpaid opinion prostitute for Roger Ailes – the chief maniac at Fox who regrettably linked up with another crazy, Rupert Murdoch, who pays old man Ailes about 100 times what he is worth.

In fact, I must say, there are several things about O’Reilly that evidence he may not be a conservative at all – merely posturing as one - for the money, of course. 

Doesn’t money trump ethics at Fox News?

“Billy” as his loser live appearance partner Dennis Miller, who somehow turned from a  liberal, as I recall, to a monster-con after losing his grip on an audience, calls O'Reilly Billy I suppose to feel on a par with him yet both Miller and Billy appear to be moving closer to the deranged track every evening, and I‘ve been listening to Billy's pap for years now.

O'Reilly a loon of the first instance.

First, he has no understanding of the need for deficit spending in a nation like ours during troubled times – and how it works – and it works wonders every time it’s tried.

The  reason our recovery is slower than Billy would  like (although he personally doesn’t need to care) is from conservative obstructionism. The majority of GOP power is now in the hands of quite ill-educated and just plain idiot urchins from the Tea Party and elsewhere; people who will do anything to stop whatever the President proposes no matter what it is. 

Surely you’ve realized that by now, and yes, much of it is based in racism from the right.

Second Billy lies, and/or lies by omission almost constantly. For instance, the debt service on the deficit is the most important figure to consider in the American situation and our individual burden today. O’Reilly seems to think that we must all fork over $50 grand per capita within days in order to rid us of this debt, but of course he is wrong, or he is lying.

He at least pretends that he could not care less about the poor and the elderly, the alien and the addict because they “cost too much”.  He likes to the use the phrase – "I’m not paying for it" or some such as if he had the choice.

Because O’Reilly is wealthy beyond his wettest dreams he does not appear to know what the term “debt service” means – And that term is the key to demonstrating his misunderstanding of and out and out lies about the subject.

The debt service on the 17 Trillion dollars that neocons claim is today’s bottom line is roughly $40.00 per month per capita for each American Citizen.

You must always keep in mind that the United States is a magnet for investments of all types because it is relatively uncorrupted and safer than any nation on earth owing to our huge military power and super-technology. Thus people all around the world purchase our government bonds along with making large corporate investments. That is why the stock markets are doing so well, even in this recession.  They dropped by nearly 50% under Bush because many business minds thought it was the end of  capitalism as we know it. Many felt the madman Cheney would finally go even further too far than he already had.

The rate we pay on our bonds – sold to balance our deficits -- is less than 2% per year in aggregate today. It’s a low return yes– but the safest on earth. That is why other nations and individuals buy U.S. bonds and treasury notes, etc. China nor any other country  buys them to control us – because it is certainly obvious to them that they could not force us to pay the face value of these bonds without going to war if things became entirely desperate. If that desperation did come along – every nation would be in even worse condition – money (which is a fiction in university level terms) would be totally worthless.

So, while the total deficit – not debt – might be 17 trillion, the payment on that debt would be approximately 340 Billion dollars annually at most shared by 340 million people and millions of businesses?   Thus, business and individuals might share in an $81.00 – yes, eighty one dollar a month payment to our bond holders each month.  The share between business and the normal U.S. resident of that $81.00 a month is difficult to assess – but an educated estimate might be half and half of the total.  So there it is – you and each of your family pay about $40 or less per month to service this debt from your total tax burden to pay ineterest on the $17 trillion..

Of course $17 trillion is a difficult number to comprehend for most of us.  But putting the number in perspective allows us to see that on a per-citizen basis it’s not an unapproachable figure, or a debilitating one. Like a bank, the only thing we Americans must pay in the short term is the interest on the bonds or notes – not the principal.  So while it may be true that we are all responsible for a total of $50 thousand each over 10,20,or 30 years, the interest is what is due – not the fifty grand.  That will come due only if the bonds or notes are sold back to the nation and this happens over decades, not months - dribbling in, not storming the Treasury doors.