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we raise ta taxes and shrink the economy and you'll bring in less money. this is simple stuff. democrats are not dumb and they're trying to bankrupt the country. >> it's confiscation and i think some of this could happen and some of these draconian taxes on income, that's not going to happen. >> suv is a bull market lender and they're extending to companies that have to go to zero. stuart: shake your groove, peaches. herbs. lauren: i don't know any herbs. i like herbs though. stuart: it's friday, march 10. happy birthday, jill. my oldest child has a birthday today. check the markets, the dow has

turned positive up 48 and nasdaq negative down 38. mixed picture of big tech. where are we now? there's a mixed bag right there. amazon, meta up, alphabet, microsoft, apple down. 10-year treasury, very important jobs report going wrong and they've gone down and the 10-year treasury down to yield of 3.68%. how about that. the president's budgets is tax and spent on steroids and it's entirely political designed to point the country in a left ward direction for years to come. the socialist fingerprints are all over this. of course they are. a socialist bernie sanders is the chair of the senate budget committee. oh dear. a new wealth tax for the very rich, higher income and capital gains taxes for the fairly rich and new tax on the profit when is you sell your home and make a profit. a new crypto tax, stock buy back

tax, corporate tax and add it up and biden proposes $5.5 trillion worth of tax increases. don't be fooled, the president says people making less than $400,000 a year will not be affected. that's a stretch. what do you think happens to inflation with the $6.8 trillion in extra spending? inflation is a tax that hurts poor people the most. what do you think happens to interest rates when the government spends like crazy and the national debt goes to $50 trillion and the cost of borrowing money for houses, cars, and credit cards goes up for everyone. this budget has lit toll do with economics, it has everything to do with politics. the president is staking out his reelection campaign and even if he's not the nominee. the democrat candidate has to run on the direction biden laid out and that direction is taking us further to the left. third hour of varney starts right now.

stuart: look who's here. steve hilton, the guy from california. i don't think this is a serious budget: i think it's a political document. what say you? >> yeah, and they are the ones who have con confirmed that, not just you and i r stuart. one of the phrases that came out is the president is looking for confrontation, not negotiation. this is not a real plan that he wants to negotiate with kevin mccarthy about congress and as i said, confrontation by the way of unity and they'll bring the country together and get things done because he's such a great expert in making things happen in government. i agree with you it's not serious in the sense that they don't have any intention, don't have any expectation of even making in happen, but actually what really is serious about

this is that because it's all so political, they're not actually doing the work of looking at our budget and saying what can we do to reign it in? we've seen it happen and spending has exploded and it's led to the inflation, the inflation has led to the high interest rates and may still go higher and we don't know what's going to happen. i agree with your au analysis of the job numbers and reaction to that and who knows where that goes at all and the economy is not in strong shape and the unemployment rate is low. yes, there are hundreds of thousands of jobs added and that's great news for everyone that got a job. why? because of all the spending and the economic mismanagement and millions and millions of americans who should be working are not working and are working with them down because of inflation and high spending and this is all going to make it worse. stuart: you've got it right,

steve. look at this headline, it's in the new york sometimes how white and affluent drivers are polluting the air breathed by la's people of color. what's your response, steve? you're a california guy. >> it's just amazing. by the way, this is the same newspaper the la times that branded larry elder the black face of white supremacy. so i think that we can, you know, we can take their lectures on race and anything to do with race with the giant pinch and the salt that should have been used for the services for the roads and they've been damaged by snow and it's mixed and we've got this weather that they didn't prepare for and people have dying as a result of it and of course we all want clean air and they want air -- the cleanliness of the air and air pollution a ray racial issue?

shows how far left and extreme ideological has become and everything about race. we need to bring the country together and not push these endless divisive narratives. stuart: steve, you're in california, can you bring us up to date on another big storm that's coming into the state and threatening mayhem? hell me more. tis tell me more. >> we've had the storm come through where i live in northern california. it's very wet. you and i from england, stuart, wouldn't think much of it to be perfectly honest with you but somehow in california where the democrats are in charge in the state legislature for over 25 years, coal control, they sr. sole control, they brag about making california the fourth biggest country in the world and newsom brags about how it's a model for the nationer and time there's a storm, people are worried about the power going up and people are losing power in the central coast of california and power outagages and can't kp the lights on and not unpredictable events and you have the weather forecast and look at people who are dying in

the san bernadino mountains. there's more coming next week from monday through wednesday and what you have in california is a political class obsessed with politics just like the president's budget. they're not interested and seem unable to deliver the basics of competent governance. preparing for these things and other governors and other states preparing for weather events that happen and dealing with them very quickly. here in california, they seem completely incapable of doing that. stuart: the report from california. steve hilton, thanks very much indeed. watching you for sure next revolution sunday night at 9:00 p.m. eastern only on fox. back to the markets. in fact, back to the drama with svb financial. the latest, lauren. lauren: reports that they're no longer trying to raise capital, that's what spooked everybody and are exploring a sale and this comes from "the wall street journal" and possibility is a large financial institution and

stake to a large investor and they also say it's conceivable there is no deal and the government might have to rescue svb. what exactly is svb and we're talking about it yesterday and silicon valley bank, top bank for tech startups and lending to companies that couldn't have gotten such loans. it spooked investors a few days ago saying, hey, we need more than $2 billion and many customers, most customers pulled their money and hedge fund billionaire speculated a government bailout could be needed and have massive race to liquidity and many guests saying it's not a leman moment and it's the example of slowing economy and slowing technology landscape. stuart: sends jitters through the banking industry. especially smaller regional banks. jonathan hoenig with me now. we've asked this of many people,

is this a leman moment? >> i don't think you can count t stuart, bank stocks haven't acted liked this in the days or weeks ahead of the financial crisis in 200 #. it's not just the -- 2008. first republic bank and a multibillion dollar bank and down 50% in just the last week and as lauren eluded to, silicon valley bank, a $300 stock a week ago and as you said they're shopping the bank around and you have to be very careful and not just high-tech banks and bank of america add add 52-week low and banks not just like any other asset and industry. they're highly regulated and as lauren eluded to. directly influenced and impacted by government act. i think you've -- action. you've got to stay clear of the weak sector. we haven't hit bottom yet. stuart: has venture capital dried up and no longer plowing billions into startup tectology? dried up? >> the profits have dried up,

stuart. even something as farfetched at bitcoin for example struggling to hold onto 20,000, even $19,000 a coin. you've seen a lot of big aspirational ideas in the last couple years and brought cheat money and silicon bank, silvergate bank and a few examples of it and ironically, stuart, we're coming at a time where most stocks are below the 50 day and 200 day average and when you're seeing the big major nanames in portfolios like bank stocks and caution is warranted. stuart: jonathan, good man and thanks for being here with us this morning. stuart: thank you sir. appreciate it. elon musk wants to build his own utopia town and formally worked as kanye west. where it might happen. the vice president is concerned

that children have mental health issues because they're stressed out about climate change and they'll rule on that one. the president of mexico in a campaign against republicans who want to target the cartels. congressman can crenshaw says bring it on. the congressman is next. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. with a majority of my patience with sensitivity, i see irritated gums and weak enamel. sensodyne sensitivity gum & enamel relieves sensitivity, helps restore gum health, and rehardens enamel.

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stuart: the president of mexico said his country duh not produce

or sell fentanyl. bill, we have loads of evidence proving him wrong don't we? >> they're produced by mexico and mexican cartels in the labs and using precursors imported from china and mexico's president said it has nothing to do with them and this is all u.s. problem. look what he said in part "here we do not produce fentanyl and we do not have the consumption of fentanyl. why don't they, the united states, take care of their problem of social decay"however fentanyl is pouring into the u.s. from mexico. they found in position of 1 million fentanyl pills they had a vehicle and they're all facing federal charges now and

potential life in prison if they end up getting convicted and fentanyl is pouring into the country through ports of entry as well. take a look at these images. nogalis, arizona, cvp officers seizing 550,000 fentanyl pills in a two day span this week and all of those pills hidden inside of drug smugglers vehicles cocoming in from mexico. that single port of entry seized more than 23 million pills just since october 1. in the meantime, take a look at these images. late yesterday afternoon, the bodies of the two americans killed in that cartel attack in mexico were finally return to do the united states and those are the bodies of the two men and now back on u.s. soil they'll undergo autopsies here and in the meantime, the cartel is apparently apologizing for that attack. take a look at these images, a remarkable development. the gulf cartel tide up five of

their seizure disorders car owes and -- sicarios and left a handwritten apology letter saying they were undies linned and acted without the direction of cartel leadership. they apologized to the families of the americans and they apologized to the innocent bystander in mexico killed during that gunfire. back out here live, circling back to the mexican president's comments that fentanyl isn't produced in his country. well, just three weeks ago, the mexican army announced they made the largest fentanyl lab bust in history in northern mexico. the mexican president may want to check with his own military to find out what's actually happening inside of his own country. back to you. stuart: well said, bill melugin, thanks, bill. there was a fascinating exchange on twitter between texas congressman dan crenshaw and the president of mexico. the president pushed back against calls of the u.s. military to go after the cartels

and congressman crenshaw responded to that in spanish and said eliminating the cartels is in the interest of both countries and the president responded to that saying he'd encourage mexicans and hispanics in mexico not to vote for republicans. congressman crenshaw joined the man himself and i can't remember the foreign lieder trying to have a -- leader to have a direct impact on a american election. that's outrageous. >> that's a foreign interference and pretty sure it's against the law. that seems pretty clear he's more interested in representing the cartels than the mexican people and i'm here for the american people and the mexican people and the mexican people want to get rid of the cartels and the mexican people produced fentanyl and there's drugs in mexico just like here. it's all produced in mexico and precursors come to china and lets it happen and his cartels to operate with impunity and

upset with american politicians like me that want to help him. like the authorization of military force and gives the president the authority to use resources to work with the mexican government like any kind of operation we do, we do it by, with and through the host nation especially in mexico. it's an extremely important and it's really sad to see and the mexican people deserve better. >> certain parts of mexico are failed states and absolutely controlled by the cartels and i want to point something out too and one of the reasons i push so hard for the authorization of military force and rhetoric is because it gives us rhetoric and i wish biden would pay attention and i'm his best friend and if he'd join me on this, i wish he would. he can play good cop bad cop and

it's such an important issue for the american people and losing 70,000 plus people a year to this. i need democrats and republicans to come together and exert that leverage over the mexican president more interested in representing the cartels than his own people. look at the gulf cartel and they apologized because they're really, really scared of us. if we just exert some pressure. i bet you we can get them to stop producing in and need to exert more and this formula is not that hard. stuart: it might mean the mexican military might do a bit. if we did that, what would the reaction be in >> if we did that without telling them and the reaction would be severe and we have to; right. we can talk about it and then of course get those reactions and i'm glad we've been talk about it because it's actually gotten the president's attention and he's come after me three time this is week. i'm a lonely congressman here

and -- i'm a lowly congressman here and it's gotten his attention. that's what i'm looking for and now i need our president to take it forward and democrats have to join me and has to be bipartisan. i don't want to make it partisan but imagine the leverage if we had a bipartisan congress saying, look, i want our president to have this authority. i want to work with mexico on it, to be clear, i want it to look like plan columbia. we had great success in columbia because of partner there is and that country is so much better than 20 years ago. we want the same from mexico and we want it to be productive and safe and prosperous and we can. we can do it if we work together. stuart: i doubt president biden is watching this program but we'll pass the message along. dan crenshaw, thank you, good stuff. next case, new york city mayor eric adams wanted to send migrants to college for free. hold on a second. how many migrants and how much? lauren: 100 migrants, $1.2 million for them -- it's a pilot program for them to take classes for about a year.

that includes room and board. it's at a county sledge in up state -- college in up state new york. critics say this is incentivizing and rewarding illegal migration to the country and last i checked college is not free for tax paying american citizens. i think eric adams has some sort of rationality coming to the migrant crisis and sanctuary city new york city absorbing all the migrants? maybe he needs to get them out of the city and they need to work and get trained stuart: i have a lot to say and i'll save till next week. elon musk. tell me more. lauren: i was in austin texas and the name of the town will be snail brooke. he said build machines faster than now. that's the joke. there are reports he wants to incorporate the county and your

own town and set your rules and violations and all part of the vision. to affordable housing; right? for his workers who would live and work there. it's said he met with kanye west, ye, and his architectural designer. stuart: t it's so odd. lauren: it's nuts. it's a joke and i don't think it is. it's really absolutely considering doing it and he might. stuart: does he do that? lauren: agreed. stuart: now this, democrats went after the credibility of the journalists releasing a twitter file. >> my friend berry weiss. >> she works for twitter? >> she's a journalist.

>> sir, i didn't ask you a question. >> she's a journalist. >> you work in concert with her? >> yeah. >> you're in this as a threesome? >> there was many more people involved than that. stuart: can you believe at a congressional hearing the democrat tried to slime journalists like that. that's beyond the pail, isn't it? i better move on before i get in trouble. colin kaepernick accusing his white, adoptive parents of giving him a problematic up bringing and they struggle to embrace his up bring. they adopted him but they struggle. we've got the story. public school board members in arizona being sued for religious discrimination and they're accused of ending a teaching student program with a christian college over concerns of their stand on marriage and yes sexuality. resident theologian jonathan morris taking more stems towards

the set and he's got a fancy suit on and he'll join us after this. ♪ good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back.

stuart: time for this day in history american built on this day, march 10, 2006, nasa's mars reconnaissance orbiter arrived on mars and its mission to study the surface, atmosphere and probe underground to learn the history of water on mars. that probe was american built. don't forget to watch my show, american built mondays, 9:00 p.m. eastern only on fox business prime. back to the markets, please. stabled out a little bit, yes, on the upside. 120 up for the dow, a little bit, s&p up 9 and nasdaq up 10. susan's back with an update on svb. lots of action. susan: lots of action and take a look at market action and the fact you've had all the major benchmark turn around and that says something about the banking crisis and people are relieved this is not 20 2008 and it is nt

lieman or goldman and they're telling people to stay home and work remotely until they can figure out their next steps according to an internal memo and svb hired partners and law firm sullivan and cromwell to talk about a sale. they were unable to find investors and we heard from treasury secretary janet yellen on silicon valley bank and she said when banks experience financial losses, it is and should be a matter of concern. svb's joint venture partner in china and uk subsidiary say they're still omitterring an independent from svb in california and this whole bank run start when had silicon valley bank was forced to off load a $21 billion bond portfolio at a loss of $1.8 billion and trying to raise the cash to cover the losses on bad u.s. treasury bets when they bought billions of dollars of

u.s. government bonds and yields were only 1.7% and at 4% now and a whole lot less and triggered quick and a panicky withdraw from the capital funds and the founder fund fred wilson and union square and they're startups to take out all their cash or cap the amount of money they positive gain sit at sv -- deposit at svb. you had bill akmam billionaire if private capital can provide a solution of government preferred bailout should be considered and the fact the markets have turned around and look at bank stocks and first republic down above 30% halted above volatility and down 30% now. they're rallying and people say jp morgan itself say the selloff is overdone and it's a buying opportunity, ashley, in jp

morgan's view and there's no contagion effects and keep this with bear sterns and not liemans and incredible to say such things. stuart: thank you, susan. tell us how it is. susan: no, but i was going to bet you that markets turn around before the day is done and look where they are right now. yields are falling right now. stuart: we haven't closed yet. susan: long way to go. stuart: school board members around glendale, arizona, being sued for religious discrimination and accused of terminating a student teaching partnership over a nearby christian college over concerns of the school's religious values and at a board meeting the district questioned how one can be committed to jesus christ and respect lgbtq students and board members. jonathan morris is with us this morning. is there a contradiction between following jesus and respecting

lgbtq? >> not just no contradiction but following the teachings of jesus christ precisely should encourage you and motivate you to respect every single person because of the inherent dignity that each person has according to christian theology. the fact these board members are suggesting that because a university student attends a religious affiliated university they can't be trusted. what they're actually say asking that of the more than 900 universities in the united states of america and none of those students were trusted for the students and universities and that's also not very smart. they're doing this in arizona where there's going to be massive pushback and we should be grateful for the media and even for social media for calling these people out. stuart: stude students merrimack

university and they're protesting and to drop religious studies isn't that another retreat from christianity? >> i'm concerned about dropping religious studies and also core curriculum in general. why do i say that? western civilization, the humanities is what allows us to reflect on values. okay. so, yes, religious values and the values of what has made our country what it is. what is the foundation of democracy? lawler hawkeyes are the values that allow us to say democracy is better than a dictatorship and if we make universities into pure technical places of learning, we will be a soulless nation. i'm glade to see the students protest. stuart: you're not allowed to debate values in american university today because you might follow the wrong values. that is maybe christian values. you're not allowed to do that. >> yeah, every study no matter where the origins are and where

it's from says that cassioppi dame ya is -- academia in the united states is extremely liberal and it includes a cornering of anything that has to do or even smells of religion and, yes, you're right that you can get in trouble in academia especially as a professor for protesting another point of view. i'm glad to see students who are paying to go there, using their rights to stand up. there's been too much lackadaisical and indifference in universities. i like to see students protest. stuart: i'm with you, jonathan, and welcome back. good to see you again. >> thank you. stuart: vis president harris said children are facing climate mental health issues. help me understand. lauren: well, there's a mental health crisis and the vp is minimizing it by calling it a climate mental health crisis. listen. >> one of the young leaders was talking to me about climate

mental health. i said, tell me what's going on with your peers. they were talking about it in terms of their peers trying to figure out, they're going to have to get a job and have to make a living but what can they do and how can they adapt the education they're having now to their activism. stuart: oh, god. lauren: i don't even know what to say. stuart: neither do i. lauren: she said at one point they might delay starting a family because of all these worries maybe an expansion of carbon footprint or find ago job that, you know, encourages their activism. it's a climate mental health emergency among young people. stuart: i'm going to move on. is that okay with you? lauren: it's a climate mental health emergency in the white house. this is nuts. stuart: i'm moving onto this, the virginia attorney general opened a probe into fairfax county middle school and the probe centers around an e-mail that was sent out by cooper middle school about a college prep assistance program. the initial letter specifically

encouraged eighth grade students that get certain criteria to apply. some parents misinterpret that had to mean white and asian students were excluded. the letter itself did not state that white or asian students are not eligible and officials issued an apology for any confusion explaining the full terms are spelled out on the district's website. it makes clear, no one is excluded from the program based on race. here's what's coming umm for you, there's -- up for you, there's speculation, that's what it is. tom brady may soon come out of retirement again. that is speculation. rumor has it that he could be joining a new football team in the fall. we're on it. liberal portland, oregon, has now seen three straight years of population decline. 78% of residents feel their quality of life is getting worse with crime and homelessness and taxes. it's not just people that are leaving the city and dance springer -- dan springer

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stuart: speculation that tom brady will be retired from the dolphins. and brady may go to miami and that's in place and the possibility of him coming out of retirement is definitely 100% in play. play. lauren: sit there and look at tweet from tuesday the play and he said i love family time and bought a kitten for my daughter. why the dolphins? why the miami dolphins? their quarterback had a second

documented concussion and if there could be a reason where that quarterback is out, maybe tom could find a spot in. he's apparently looking at private schools in miami for his kids. that's the report. but what about fox? what about fox? is he going to call games and plans to join fox in 2024. so there's sometime. stuart: stays in the headlines. lauren: he's 46 years old. good for him if he can still play, great. stuart: we have to get to this one. colin kaepernick is going after her parents how they raised him and he was adopted by a white couple. what's he saying?

lauren: he wanted to braid his hair in corn rows and his mom pushed back and said that'll make you look like a thug. that's one example. stuart: i'm moving on and not saying anything about this. dan springer joins me. it's not just portland? >> yeah, it had been almost 40 years and been unprecedented three years of population decline and many experts arepere pre-ing a fourth year to be extended this year. the reasons are many. we've heard them all before. the crime, the homelessness and

now the higher taxes on the people thanksgiving there and businesses. katie snyder calls herself a pretty typical portland liberal. a reliable vote for democrats and tax increases and she moved her family out of portland to washington state after violent crime simply became too much to bear. the city set a new record and each of the past two years many of the shootings rights in the east side neighborhood and they sent records for car theft with 11,000 and vandalism with property damage of $19 million. >> we haven't heard a gunshot since we moved. it's been great, it's the little things in life. >> some businesses are leaving and wal-mart closing only two portland stores this month affecting nearly 600 employees and believed shoplifting is one of the big reasons and nike was founded just down the block in beaverton and close add huge portland store and rampant

shoplifting and several years and 78% of residents feel quality of life was down. now second only to new york city. >> they don't feel they're getting to value to go to other places. portland's re-librarily liberal -- reliably liberal voters coming up in may and increase taxes on capital begans on everybody for hiring lawyering for people facing eviction but the polls show that measure is failing. stuart. stuart: good, dan springer.

good. they'll never learn. dan springer, thank you very much indeed. don't go anywhere. friday feedback is next. ♪ you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. y your ilild hadidiabet,, u'u'll le e how sysy dedexcom7 7 is. y your ilit's on.diabet,, d,d, he'ofoff. yocacaright on your phone,erers so you can always be there for yocacarigwith dexcom g7ne,erers

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♪ stuart: the song is twist and shout. that was quite a song back in the '60s. 42 degrees, let's go. friday feedback, lauren, susan with me. let's go. first one comes from mel. has stuart ever been to the famous crossing at abby roadmap made popular by the beatles. sioux susan lived in london. susan: i did but i don't know what part of town. it's not where i lived. i worked at fleet street and lived in may fair. stuart: oh, the elites. it's all coming oturu now. next from paul. novaks no djokovic no play. we all played the price, why

shouldn't he? no special treatment for the rich. come on, man. as the president would say. look, he's had covid twice, he's super fit, he's played elsewhere in the world in front of large crowds. why can't he come here? susan: and one of the greatest tennis players of all time on the verge of break ago record, 23 grand slam championships so i think you should let him play. stuart: i think our writer doesn't like the rich. that's what it is. all right. raymond writes this, which do you prefer, use or prefer, handwritten or typed notes. that's easy for me. every day you might have seen it, i bring a folder and got all my notes and all the 12 guests we do every day. written in longhand on my folder. how about you, susan? you're a techy and don't write anything down. susan: no, you don't have a computer or use scripts. lauren: i write everything down and i can't read my own handwriting half the time. i tried your folder trick one

day and kept getting confused on which part of the folder i needed and was turning it all around. stuart: it's not a trick but part of the act. this is from scot. scott. i love when lauren and susan give stuart a hard time. when will we have the roast of stuart varney? lauren: for your 75th birthday. stuart: glad you got that in. there's never a roast of stuart varney as lon as i'm alive. susan: it's 365 days. lauren: that's the letter of endearment. stuart: from carol, if you're serious about giving up liverpool for lent, you miss add good match. liverpool beating man u7-nil. you ladies didn't see that. susan: i thought manchester city was your team because they're winners and only choose winners. >> i did liverpool and man city is winning. from bill, i turned 65 this weekend and working just as you are. what you do every day is very

inspiring to me very kind of you, bill. thank you indeed. we're all on the show so let's take credit. the viewers like you. lauren: they like you. stuart: not true. here we go, thank you for the feedback. friday trivia and what state has the most rogue power? don't google it, susan. what state has the most road bridges, new york, florida, california, texas? the answer after this. ♪

stuart: this is a good but unknowable question. lauren lauren you said you knew the answer. stuart: well, i saw it on the prompter. which state has the most road bridges. i know the true answer. lauren, what's your guess? lauren: florida? stuart: there's no rivers in florida. lauren: you told me to guess. stuart: it's texas. they have 53,000 bridges, almost twice as many as -- lauren: i was going to go with new york, but with i was really wrong. stuart: i don't think you could find that if you googled it. okay. time is up for me, stuart varney. that's it for varney and company. lauren: happy weekend. stuart: "coast to coast" starts now. ♪ neil: all right. some shaky news we are getting right now on silicon valley bank, of course, it never opened for trading today. we're told that the regulators have shut it down while it