peter morici is with us.call it an economic disconnects, spin from the president, economic reality on the ground. you agree with us? >> absolutely. if we look at the last five years, as the basic question. are americans better off than they were five years into the reagan presidency, five years into the clinton presidency or even the george w. bush presidency. the answer is no. this guy has proceeded over failed economic policies that are handcuffing a private sector, kowtowing to china, tying up u.s. energy production. the list is terrible. that is why americans can't find jobs and most of those kids after the pep rally still have the same desk and will they ever have headaches when they graduate. stuart: if there's one thing this president is doing wrong in terms of economic policy, one key thing he is doing wrong, what is it? >> appeasing china. the same lack of courage he is showing with regard to hong kong today, with five years with regard to china, that basic policy towards china. is a kneeling pad. st

peter morici, what is your reaction to these things?t is trying to put a smile on a bad situation. wasn't talking about how great the economy is in a press conference with the mayor of the city of before it but cherry picking, going to an industry he is heavily subsidized and bail out, they are feeling better in the auto sector, but the rest of manufacturing, we are not creating many jobs. if this attracted manufacturing jobs, we would be 0.1% there. the man is not keeping his promises. this is a white out. melissa: he says it is not a political speech, he took time out to talk about the people at fox news. charles: it is disappointing, very and presidential, very and presidential. i am surprised he doesn't go to the oldest trick in the book, blame bullish. bottom line -- really -- the media lets him get away with this. like talking about the unemployment number, no one will talk about wages. they let him suggest what is happening with participation is old people leaving the jobs market. the participation rate has gone up. young people