i am stuart varney in 4 neil cavuto -- in for neil cavuto. center lindsey graham said it would take a complete meltdown to stop perk -- senator lindsey graham said that. -- a complete meltdown to stop her. as a senator joins us. in your introductory remarks, you said the following -- a senator joins us. you said she may allow or embrace decision making based on your biases and prejudices. if you believe that on the supreme court, she would act with bias and prejudice, could you vote for her? >> no, and that is part of the reason to suggest that she will have to address that -- she has already given your testimony, but in answers to questions. stuart: do you think she has a history of acting on bias and prejudice? >> it is not clear. even in the firefighters' case, the supreme court reversed the decision, suggesting that perhaps she believes in racial preferences and applied a standard there that all nine supreme court justices rejected, as a matter of fact, and that is more about her speeches and how she would approach judging better decision

bill: stuart varney leads coverage from the fox business network. good morning to you. how does this affect everything? >> the language is being manipulated. a cadillac plan, those that not sound like lavish care for the rich? it is simply not true. the vast majority of plans that cost $25,000 per year or more cover people that are already sick or the elderly. what is going on here is a form of class war. we invented class warfare where i came from. this is a good example of it. sounds bad, does it not? cadillac coverage? it drives me nuts, bill. bill: you can recognize it when you see it. what does that look like? >> it looks like that it is not fair, look at how much of the rich are getting, look at what they can afford. tax them, bring them down to earth, make them like us. that is what is at work. believe me. it will not bring in the money that they think it will. they are talking about $25,000 per year or more in health care benefits. do that and they say they will bring in more in 10 years. really? 0.3% of all health-care plan's cost more than that every year. the

gregg: stuart varney has been more worried about this for many months. in addition to $11.40 trillion, it will double under the president's budget and spending. would you regarding the debt as the single biggest problem in our economy? >> there is accumulated national debt, $11.50 trillion, costing us half of a trillion dollars every year in interest. then there is the annual deficit, running close to $2 trillion this year and growing. you are right, it is the intellectual and policy groundwork for the 2nd stimulus plan, of being laid right now. the times says that there is a compelling case for more government -- government stimulus. paul krugman says we need to get working on this now. why? because stimulus is not working, the jobless rate is headed right to 10%. those shovel ready projects that we heard about four months ago are simply not there, not ready. the stimulus is not working. there is another stimulus plan being talked about, but there is a huge deficit. people do not like it. gregg: help me out. we have not even spend 90% of the first stimu

let's get to stuart varney from the fox business network. guns are already out on this one? >> they do not just oppose it, they hate this proposal. you have got a full-scale revolt brewing right now. basically, small business hates it for three financial reasons. one, paying for it, the house proposes a surcharge on high income. lots of small income people face a big tax increase. no. 2, they face fines and increased costs if this goes through, because this bill says that everybody has got to be covered in a small business. if you do not, you pay 8% on your payroll. a huge increase in cost. 3, they can already not borrow money. small business cannot get access to the money that it wants. three financial problems with this bill and they are in revolt. jon: even the house and senate bill, all of them being discussed, every single measure saying that they need to be covered. the house bill stands apart because of the way that it will be paid for. this tax on the rich is different from what we expect to come out of these proposals. jon: thank you, stu. jane: this morning, the fi

now for the top story tonight reaction to this fox news business anchor cheryl casone and stuart varney. am i getting this wrong, stewart? you are the business guru. >> no. you are right. utility bills go up. what's the benefit? zero. no noticeable difference to the climate in the future. cost? how about lost jobs? maybe by the million and the ruin of an american industry. bill: why would people lose jobs on cap and trade. >> manufacturing will exit. when we start putting restrictions on our ability to manufacture at a reasonable cost, they will exit the country and go to china. bill: they will slow down and not make products in the united states. >> no they will make them overseas. they will immigrate. bill: they have cap and trade in spain. >> they have had cap and trade in europe. they have had it for some time. it has failed. it has failed to lower emissions significantly. they have not met their target. emissions have continued to go up. they did have an exchange like we are talking about to exchange these permits to pollute. people made millions of dollars off it. they still didn'

now for the top story tonight reaction to this fox news business anchor cheryl casone and stuart varney. am i getting this wrong, stewart? you are the business guru. >> no. you are right. utility bills go up. what's the benefit? zero. no noticeable difference to the climate in the future. cost? how about lost jobs? maybe by the million and the ruin of an american industry. bill: why would people lose jobs on cap and trade. >> manufacturing will exit. when we start putting restrictions on our ability to manufacture at a reasonable cost, they will exit the country and go to china. bill: they will slow down and not make products in the united states. >> no they will make them overseas. they will immigrate. bill: they have cap and trade in spain. >> they have had cap and trade in europe. they have had it for some time. it has failed. it has failed to lower emissions significantly. they have not met their target. emissions have continued to go up. they did have an exchange like we are talking about to exchange these permits to pollute. people made millions of dollars off it. they still didn'

welcome, everybody, i'm stuart varney in for neil cavuto, this is "your world." president obama saying he wants his health care plan by august, sending house democrats scrambling to come up with a way to pay for it. the tax hike at the top of their list, a sur tax on the rich. plus, craig smith says it's going to be everyone taking the hit. he is c.e.o. of swiss america. here's the proposal, craig. individuals make $200,000 a year, couples, $250,000, they pay a surtax to pay for health care reform. who loses their job if that goes through? >> i think a lot of people are going to, stuart. this is insane what this administration is doing. think about the number we're talking about, stuart. 200 to 250,000. that's targeted at small businesses. that's going to hurt every small business in america. and then, if that small business doesn't offer health insurance, a percentage of the salary they pay that person, they're going to be hit with that as well. this is, once again, a jobs killer, stuart. this is not how you turn an economy around. i'm in san diego, california,

coming up in 12 minutes, stuart varney is going to measure the strength of the economy.e. joe lieberman is here live. want to take years off your life? and meet a man who has 130 pet pythons. see you at the top of the hour. taking its rightful place in a long line of amazing performance machines. this is the new e-coupe. >> we're marijuana consumers. instead of being treated like criminals, we want to pay our fair share. taxes from california's marijuana industry could pay the industry of 20,000 teachers. brian: sounds reasonable. that was part of a tv ad paid for by the marijuana policy project. the group wants to legalize pot in california and tax it and help get the state through its enormous debt and deficit. good idea or up in smoke? dan is with the marijuana policy penalty and john represents california's peace officer's association. dan, how do you feel about this? >> well, obviously marijuana prohibition has failed for 70 years. we're throwing away money on this problem, and we're giving the process to drug car tells, and they're not even being taxed. brian: how

stored varney has answers. stuart, as does caterpillar so goes the nation? that should not be taken as good news. >> not good news. caterpillar, clearly the stimulus plan is not working. remember, as you pointed out, they were the poster child for the stimulus package. they sit on the economic recovery board. there is a connection. caterpillar was high profile. look at this. their profits are down by two- thirds. their sales have dropped in every segment, including equipment and she ridge, the tobaccos and mining equipment -- shearage, back hoes and mining equipment. what the present set on february 12, putting america back to work -- what the president said, putting america back to work, it simply has not worked out that way. megyn: what did caterpillar get from the stimulus package? to visit the money into the economy that would help them, or general money into the economy? >> they got great publicity. james allen is on the recovery board. the president visited. they did not get any money, but they got a great public relations. but the whole thing is falli