A theory of liquid water is developed by assuming that the molecules in the liquid state have solid-like and gas-like degrees of freedom. The spectroscopic data are used in assigning the vibrational frequencies of solid-like molecules. The calculated values of molar volume, vapor pressure, entropy, entropy of vaporization, expansion coefficient, compressibility, heat capacities at constant volume and at constant pressure, surface tension and critical point properties are all in excellent agreement with the observed data