peter morici, i will let you start. >> if you recall janet yellen said cbo was in better position to assess this than the white house. if you recall man is being political. i think he should recognize he has life after the white house and he has to come back to play where i am and he is losing his, his credibility by saying these kind of things. it could cause upward to a million jobs. you can't get around that. it is a dumb thing to do. melissa: it says a lot about kind of jobs we're getting back as we look at unemployment numbers, that we have so many protests going on out there. we have protests going on about the minimum wage. >> right. melissa: we're focused on minimum wage, means those are type of cheap jobs that people are doing right now as opposed to plentiful ones that play well. charlying? >> when you see like the guy with the beard, you know, man, this is -- hard to take people like this seriously. melissa: unclear to you why he doesn't work at a bank on wall street? >> unclear to moo why he doesn't work, exactly. >> he has time to demonstrate. like one of my students. >>

melissa: peter morici, what do you thing? >> that economy we had of the last 56 years can't be attributed to the minimum wage but if we adjusted for inflation than after it has been raised last time about $8 and a quarter would be about right, $10.40 is not and will cause some unemployment in vermont. >> we have four forecasts, there will be some unemployment and also higher income for people but we have a reality we had a minimum wage that has worked well for along time. there is discussion about how high is too high, $10, $9, and it is a gradual increase. melissa: will people lose their job? >> i don't know over the long term if it is that clear. the porche spend -- skip give the more money they spend it under the economy. >> it is clear will cost more jobs because if we adjust the minimum-wage for how much inflation since 2009 would be between 8-1/4 an hour. it was a substantial real increase by 20%. and -- >> we had decades that kept up with inflation. >> that is not what we are talking about. let's stick with the fact. i

peter morici, thanks for being with us. moving on to breaking news from general motors, the national highway traffic safety administration says it is likely that more than 13 people died as a result of faulty ignition switches that have been recalls. general motors of refraction, at $33 a share right now. my take on the european union, bureaucracy, and obamacare is next. capitato make it happen? that makes it real? what's a vision without the expertise to execute it... and the financing to make it grow? whatever your goal, it can change more than your business. whatever your goal, it can change e future. that's wh at barclays, our ambition is to alys realize yours. are we still on for tomorrow? tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. csx. how tomorrow moves. what a day. can't wait til tomorrow. trwith secure wifie for your business. it also comes with public wifi for your customers. not so with internet from the phone company. i would email the phone company to

is this the right track peter more re morici? >> you know, ronald reagan's recovery peaked at 8.2%, and so we are having almost double, so there is that. one thing that is bother smeg that the unemployment rate fell b i t-- but the participation rate is still very high. 1 of 25 men are still unemployed and this is showing that the economy is growing in a range of 3%, and we have bounced out of the bad winter quarter, and that should be celebrated, but the question is how do we go to the next level, and as we have said, there is a lot of disagreement of how to get there. >> and talk about the big picture for the people who have a job, and you know, putting the money in the stock market, and trying to save for retirement when we look at what the numbers mean in terms of the overall economy, peter. we should say there were some bright spots, the consumer spending, and the retail sales, and auto sales, and stock market in record territory up 50 points on word of the numbers, and not insignificant for anybody investing in the retirt.

talking points urges to you read a column by peter morici a professor at the university of maryland which is posted on foxnews.com. he points out that china is driving pollution on the earth and no matter what the u.s.a. does china is not going to cooperate on limiting co 2 emissions. billion and a half people and any deprivation in china could lead to a bloody uprising as the folks there know they are oppressed. so, business, not pollution is china's obsession. right now, china emits almost twice as much co 2 as the u.s.a. and is responsible for 85% of the annual increase in harmful emissions. in fact, the u.s.a.'s carbon footprint is receding down 13% since 2005. imposing stringt envirnl mental standards on u.s. corporations will not do very much schongs china continues to pollute. now, it is foolish not to do anything. human beings are harming the earth. and some corporations pollute to make money. they have to be held to account. reasonable clean air and water standards should be imposed by the feds. but those standards should not be punishing. or the u.s. economy will sink even furth

talking points urges to you read a column by peter morici a professor at the university of maryland which is posted on foxnews.com. he points out that china is driving pollution on the earth and no matter what the u.s.a. does china is not going to cooperate on limiting co 2 emissions. they have to support a billion and a half people and any deprivation in china could lead to a bloody uprising as the folks there know they are oppressed. so, business, not pollution is china's obsession. right now, china emits almost twice as much co 2 as the u.s.a. and is responsible for 85% of the annual increase in harmful emissions. in fact, the u.s.a.'s carbon footprint is receding down 13% since 2005. imposing stringt envirnl mental standards on u.s. corporations will not do very much schongs china continues to pollute. now, it is foolish not to do anything. human beings are harming the earth. and some corporations pollute to make money. they have to be held to account. reasonable clean air and water standards should be imposed by the feds. but those standards should not be punishing. or the u.s. econo