STUART VARNEY (HOST): Let's get right to the president's speech last night on terrorism, and bring in Lt. Col. Ralph Peters. Alright, Ralph, I have a question for you. I know you watched last night. I want to know, what were you saying to the TV as the president was speaking? What was your commentary as the president's speech unfolded?

RALPH PETERS: Well, first of all he keeps speaking about “we can't give in to our fears.” You know, “don't be afraid.” Look, Mr. President we're not afraid we're angry, we're pissed off, we're furious. We want you to react, we want you to do something. You're afraid. I mean this guy is such a total pussy, it's stunning. And, you know, we want -- we the people, the American people, whom he does not know in any intimate sort of manner, we want action. We want action against Islamic State and then -- then, when the president is telling us he is going to destroy ISIS. This is a president who has done more harm to American police departments than he has done to Islamic State. This is a president who restrains our military. He uses it not to defeat ISIS, but for political purposes for political cover. This is a president who doesn't want to hurt our enemies. This is a president who cares more about thugs in Guantanamo, or thugs in Ferguson, Missouri, than he does about law-abiding American citizens and their right to live in safety and peace.

VARNEY: I can tell you are super angry, and I asked you what your reaction was, but I have got to call you -- you can't use language like that on the program, OK? I'm sorry.

PETERS: I'm sorry.

VARNEY: OK, accept that. Now, moving on, what was new in the president's presentation last night? Was there anything -- was there anything in his presentation last night which would make a contribution to defeating ISIS, or erasing our fears? Anything?

PETERS: No. I mean, like -- with The New York Times, he's convinced that the problem is gun control, that's what we've got to fix. And the problem is Islamist terror. Now, certainly Stuart, we could use more intelligent approaches to keeping guns out of the hands of psychotics. The Founding Fathers did not intend for every drunk psycho to have a machine gun collection. But law-abiding Americans owning guns is not the problem here. The problem is Islamist terrorism, and the president will not even say “Islamist terrorism.”

VARNEY: Ralph, I'm sorry. I've got to interrupt again. You used some very strong language there about the President of the United States, and I'm the anchor of Varney & Co., and I have to ask you either you should apologize for that, or take it back.

PETERS: I apologize. I apologize.

VARNEY: OK, alright. What would you like to have seen the president say last night?

PETERS: I'm not interested in what he says anymore. I want him to do, I want him to act. I want him to take on Islamic State. I want him to unleash our military. And yes, Stuart, I am angry -- I do apologize for giving into my anger, but I'm -- I feel like you know the American people understand where I'm coming from on this. My choice of words was incorrect, but my sentiment, I think, is shared by many.

VARNEY: OK. Ralph, thank you very much indeed we will see you again very, very soon. Calm down, lad. Calm down.

Previously:

Fox's Ralph Peters Insists That Christians Are The Only “Real Refugees” From The Middle East

Fox's Ralph Peters Compares Obama To Jefferson Davis, President Of The Confederacy

Fox's Ralph Peters: “Obama Is Just Not Manly” Enough To Combat Terrorism

Fox's Peters: Obama And Democrats Acted Like “Bitchy High School Girls” Over Netanyahu Address