FBN's Charles Payne: Obama Has Not Met Expectations

Charles Payne is a Fox Business Network contributor, the CEO and principal analyst of Wall Street Strategies, and the author of Be Smart, Act Fast, Get Rich. So it was surprising to learn that he looks to the futures each day as an indicator of where the world stands economically.

"It's not always an accurate barometer," he confessed. Yet, it lets him know what's going on overseas. Payne, whose company tells people what stocks to buy and sell, sees a huge change a-coming.

"The U.S. market has always been the straw that stirred the drink," he said. "Right now, unfortunately, China is the straw that's stirring the economic global drink. I hated to admit it...But it's looking more and more like that's the path we're going down."

Payne came over from CNBC to FBN at the behest of Neil Cavuto, who he called "wonderful," and, regrettably, "tremendous." Imus agreed, save for one minor concern.

"He made a sexual advance at Charles," Imus told Payne, who wasn't all that surprised.

The New York Times reported recently that a second stimulus bill might be necessary. Payne called the first one nothing more than a redistribution of wealth.

"It didn't do anything," he said of the nearly trillion-dollar package. "Most of this money doesn't even hit until next year, which coincides exactly with the midterm election."

In other countries, like China, Payne said more than half the money allocated in their stimulus package has already gone to work. Additionally, the U.S. government wants to regulate executive pay at companies that accepted bailout money, which Payne said makes sense since it is now a major investor in those companies. But it's also a slippery slope.

"Look at the areas they're trying to dominate: financial, health, and energy," he said. "That's the bulk of our economy."

President Obama, he added, lives in his own world where "the smart guys who write for The New York Times and live in Manhattan sort of dictate to the rest of us how much we should make, what we should eat, and where we should live." The American people, he thinks, are starting to reject that.

Obama has failed to meet expectations, said Payne. "A lot of people thought this was going to be manna from heaven," he said about Obama's presidency. "It's more of the same. If I were a poor person who voted for Obama, I'd be so upset right now."

Obama has been ignoring the people who put him in office, according to Payne, who, shockingly, was not ignored this morning by the I-Man, who managed to pay attention right up until the end.

But he confessed, "I have the attention span of an infant."

-Julie Kanfer