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"It's pretty clear that he doesn't like [Republicans] because he feels that they are the purveyors of white privilege,” O’Reilly said on "The O'Reilly Factor" Monday night.
"He's never going to say that, but that's the theme that runs through his advisors: The white privilege has to be broken down."
O'Reilly's comments came in an interview with Washington Post reporter Bob Woodward and amid a collective Fox News slamming of Obama's speech on Monday and Tuesday.
Woodward brushed back on the suggestion that there was a race factor, saying that Obama simply doesn't agree with Republicans on their agenda. But O'Reilly defended it, saying Obama sees race as the "seed" of a "social justice agenda."
"The Republican agenda in his mind — the president's mind — props up white privilege," O’Reilly said. "Therefore, as the social justice champion, he has to tear that down. He doesn't like the white privilege thing, and he doesn't like the Republicans trying to defend it."
Earlier in his show, O'Reilly accused Obama of attempting to "redistribute prosperity," which he said would bankrupt the country. It was a theme Fox News hit frequently on Monday and Tuesday: Mentions of "socialism" popped up on "The Five" on Monday and on "Fox & Friends" this morning because of Obama's use of the term "collective action" in his speech.
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During "The Five," co-host Eric Bolling tore into what he saw as "a speech full of hypocrisy" and was mind-boggled as to how people "could vote for four more years of this."
Fox News' freakout began early in the day, when "Fox & Friends" dubbed it the "most depressing day" of the year. It was based on the discredited "Blue Monday," which The Guardian's Dean Burnett called "gibberish, bilge, rubbish, crap, stupid, and any other polite way of saying 'utter bollocks' that you can think of."
Watch the video of O'Reilly below, courtesy of Fox News: