“The Democrats [got] their butts kicked […] and you know what, they earned the thrashing,” Bill O’Reilly said in tonight’s Talking Points Memo.

The Democratic Party under President Barack Obama has failed to lift the economy or provide enough protections for the American people, and Harry Reid has blocked meaningful reform bills, O’Reilly charged.

About 65 percent of voters told exit pollers that the country is headed in the wrong direction.

“So there is no debate, and that's why the Republicans have now assumed power in America,” O’Reilly contended.

O’Reilly said that many Americans don’t have enough money to fulfill their obligations because Obama wants the feds to run the economy.

“Even today after the Republican landslide, the liberal New York Times is screaming that the government has to quote ‘create jobs.’”

O’Reilly blasted that as “moronic,” explaining that the private sector creates jobs.

Then, O’Reilly remarked on Obama’s “style.”

“You simply do not play golf after announcing that an American has been beheaded by ISIS terrorists. That's inappropriate, and the American people took notice. Also, when there is a threat of an epidemic, Ebola, you, the president, take quick, decisive action. You do not allow the Centers for Disease Control to confuse everybody.”

According to yesterday’s exit polls, Americans are most concerned about the economy, and O’Reilly said they should be.

“On his watch, President Obama is desperately trying to redistribute income, and in the process, is creating a welfare state in America,” O’Reilly said.

Add these components up, O’Reilly said, and you have the vote last night.

Watch the memo above.