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President Obama is losing the fight against ISIS because he prefers half-measures and rhetoric, Bill O’Reilly said in his Talking Points Memo tonight.

O'Reilly pointed out that Obama said the Paris attacks were a "setback" against the terror group, but progress is being made.

"The Factor" host wondered what progress that might be, noting that over the last few weeks, a Russian airliner was blown out of the sky by ISIS, hundreds were killed or wounded in Paris, an international soccer game was postponed in Germany because of a terror threat and a massive migrant crisis is underway.

O'Reilly added that ISIS militants continue to hold the Syrian city of Raqqa and are said to be making $1 million a day selling stolen oil.

"Any honest observer would have to conclude that progress against ISIS is scant or non-existent," O'Reilly said. "There comes a point when a disaster has to be confronted. And right now, America's foreign policy is a disaster which will have unintended consequences for we the people, perhaps lethal consequences."

Watch the full Talking Points Memo above.

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