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1.
This is what Keith Olbermann sometimes calls Bill O'Reily on his show Countdown. Always used as an insult.
"Bill O The Clown, today's Worst...Person...in the World"!
by smooth steve March 13, 2009
 
2.
Another name for Bill O'Reilly, who is well-known for his lies and distortions. Invented by Keith Olbermann.
Billo The Clown, Today's Worst Person of The World
by Liberal8 May 13, 2010