answers. >> good morning, "varney & company" viewers.rch 15th and while it's the same story from lawmakers in washington, gridlock on the budget. we've got two different visions of the way the country should be. the main theme from the democrats, tax the rich and lawmakers of course can't get any kind of deal done. if congress wants a lesson on popularity, they have to look overseas, after pushing for higher taxes on the wealthy and more entitlements for everyone else, socialist president francois hollande's popularity has plunged. tom sullivan, a spectacular fall from grace. >> it is, but the thing misreported about france and all of europe is that they're, oh, the economy is not doing so well. economy is because of austerity and i went in and i looked, for example, italy's austerity plan and looking for the spending difficulties, there weren't any. there were only tax increases and that's their idea and the left media's eyed of what austerity is, so, here you've got austerity into the face of the french citizens and you know what, this

"varney & company" is about to begin. and save your money.now it yet, but he'll work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find se good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >> it's wednesday, march 20th, the first day of spring. well, the season may change, but the same winds are blowing in washington. the white house continues to insist on maximum pain from sequester cuts. we're seeing more cuts used for political reasons instead of cutting back on things we don't need. speaking of that, more nonsense from senator harry reid indirectly linking the blast that killed seven marines in nevada to the automatic defense cuts. listen. >> it's just not appropriate, mr. president, that our military can't train and do the maintenance necessary. these men and women were training there at hawthorne, with the seq

the fight between two varney & company regulars.es strongly disagrees. let's start with you, doctor. make your case it is a psychological bubble. >> i am not saying for sure it is a psychological bubble, but it certainly could be. we will hear from charles, perhaps, industry was flourishing, prophets were soaring. you know what, it fell apart. the fundamentals were never there. now, we face a possible delusional event that these stocks should be valued through the roof. stuart: you both have 30 seconds. charles: the idea that people should always be exceedingly cautious. this is what i worry about. you talk about bubbles and gambling and detaching from reality. it reflects a reality that we are just too high up to understand. it is amazing how much money they are making. they are not making it from mainstream. they are making it all over the world. what is dangerous is this mentality. that is a bubble that the country will collapse tomorrow. that is the bubble that has so many people miss out on a lifetime opportunity. stuart: i hav

when he we come back, stuart varney and dana perino will join me for reaction.hind this controversy commercial, to jim crow laws. and we want you to follow the live show and share your tossing and turning have given way to sleeping. where sleepless nights yield to restful sleep, and lunesta eszopiclone can help you get there, like it has for so many people before. do not take lunesta if you are allergic to anything in it. when taking lunesta, don't drive or operate machinery until walking, eating, driving or engaging in other activities while asleep without remembering it the next day have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right f

when he we come back, stuart varney and dana perino will join me for reaction.behind this controversy commercial, to jim crow laws. and we want you to follow the live show and share your thoughts. hannitylive.foxnews.com. has an equally thrilling, lesser-known counterpart. conquer them with the exhilarating is 250. get great values on your favorite lexus models during the cmand performance sales event. th is the pursuit of perfection. the day building a play set begins with a surprise twinge of back pain... and a choice. take up to 4 advil in a day or 2 aleve for all day relief. [ male announcer ] that's handy. ♪ when her sister dumped me. grandpa was my dad a goodthlete? no. oh dad, you remember my friend alex? yeah. the one that had the work done... good to see you. where do we go when we die? the ground. who's your girlfriend? his name is chad. and that's where babies come from. [ male announcer ] sometimes being too transparent can be a bad thing. this looks good! male announcer ] but not with the oscar mayer deli fresh clear pack. it's what you see is what

>> varney is reading this. connell: no he's not, no he's not. imus yesterday and bracket picks. did you think i convinced anybody i know anything about basketball? >> no. stuart: i new about the plumly brothers and i went on to say i wish we could go back to the days of the fab five from michigan and time that the 12th seed beat the 5th seed again and they did last night. thank you very much, producer, two of them did, right? >> well, i think-- that you would have been rooting for the fab five, they broke the rules and you're a rules guy and that might have gave it away. stuart: if it were 20 years ago. that would be my day. charles: you were breaking rules. stuart: what do you think? >> i think you're very knowledgeable, stuart. you're the host. charles: monica. stuart: and what do you think of my prediction, louisville beats kansas in the final 84-82. charles: that sounds probable, absolutely. stuart: certainty, put your money on it. charles: i'm going to do that right after the show. stuart: syracuse, somebody said syracuse, what about syracu

i'm charles payne in for stuart varney.ur of "varney & company," critics of pope francis i is quick to point out his involvement in the argentine's crisis more than a decade ago. he spoke about the growing gap between the rich and poor and tyranny of the markets and perhaps we should look the at his humility and insistence on simplicity in his life. he's he a hard worker and self-starter and rode the bus and subway in buenos aires, for us those are capital ideas and conservative ones at best. ♪ we're going to get to the pope and the markets in just a minute. but first, joining us now is senator angus king from maine. senator, you're an independent and you represent the middle. now, i want to talk about the budget, because ron paul writes he's made serious concessions with spending and tax increases. on the other end of this how do you suggest that president obama somehow come and meet him in the middle? >> i'm not sure the budget is coming out of the house as much as any new revenues to solve the budget problems. by the way

but here is the good news, "varney & company" is about to begin.ith fidelits new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovati reason serious investors are choosing fidelity. now get 200 free trades when you open an account. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and ply online. creditcards.com. ♪ >> that's an armageddon song, by the way. you're looking at a live picture of white house. in the next hour, president obama meets with top congressional leaders and they're talking about the 85 billion worth of spending cuts. okay, they'll meet. so what? nothing is going to happen. congres

from td ameritrade. >> good morning, "varney & company" viewers today is monday, march 4th.t it dead wrong on the budget cuts. here is the president from friday. >> starting tomorrow, everybody here, all the folks who are cleaning the floors at the capitol, now that congress has left, somebody's going to be vacuuming and cleaning those floors and throwing out the garbage. they're going to have less pay. the janitors, the security guards, they just got a pay cut. and they got to figure out how to manage that, that's real. stuart: not so fast. right after the president spoke of pay cuts for janitors and security guards, the superintendent of the capitol hill building issued a memo and said the pay and benefits of each of our employees will not be impacted. there was a specific mention in the news today by a high ranking official, i guess that's the president, he says that the employees that clean and maintain the u.s. capitol will receive a cut in pay, this is not true. the president dead wrong. one more armageddon item, furlough notices were sent out to 150,000 justice depart

on tv "varney & company" gets underway. happy birthday to kenny chesney, 45 today. ♪ summertime is finally here and man, back in gear out on 49 ♪ ♪ i can see the lights ♪ ♪ school's out and man, just like a long lost friend you haven't seen in a while ♪ ♪ can't help, but smile ♪ ♪ two bare feet on the dashboard ♪ ♪ young love in an old ford ♪ ♪ and jeans and a tattoo and a yoo hoo bottle on the floorboard ♪ ♪ out on the radio, sing along 'cause it's one we know ♪ ♪ it's a smile, it's a kiss, it's a sip of wine ♪ ♪ it's summertime ♪ ♪ sweet summertime ♪ ♪ imus in the morning ♪ >> well, the protesters took a holiday, but they're back in force in cyprus today. i'm charles payne in for stuart. now, here is the big story. cyprus may have approved a bailout plan, but the crisis, well, it's far from overment banks now will not open until nurse and that's at the earliest. panic and anxiety set in and worse the longer the banks are closed. after hearing comments from the dutch finance minister yesterday, called the cyprus plan a tem

in a sea of doom and gloom, wall street is back and "varney & company" is about to begin.r process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are oosing fidelity. now get 200 free trades when you open an account. >> good morning, "varney & company" viewers,today is tuesday, march 5th, a potentially historic day. and the dow jones industrial average just a smidgen away from an all time high and there are three reasons why we're here. number one, ben bernanke and the fed keep printing, no signs of stopping, free money all around and some of the trillions has gone into stocks. and then there's this, what do you get when you buy a bank or cd, nothing, and all the more reason to buy stocks and switch your money out of bonds. don't forget thi

stuart: you aren't going to reveal it to our varney & company viewers?ree if they go to my website. charles: wstreet.com.ebsite? it is my march newsletter. it's shocking what's happened in the last two rallies. stuart: all right, charles. we accept your explanation. let's go to nicole. bed bath beyond, know it well, what are they doing? nicole: let's take a look here at bed, bath & beyond. this is where stuart likes to go around with his cart and pick up all his necessities and spends a lot of money, stuart. no, what we're looking at is barron's is reporting it could rise 25% over the next year. you like bed, bath & beyond, don't you? stuart: i do. i think it is a great store. i like the definition of product, very very good. move on to blackberry, please. is this a winner as well? nicole: this is a finally moment. finally, yes, it is a winner. the stock is a big winner. finally now because at&t is going to launch the blackberry 10 for $199.99. presales begin on march 12th. finally we get the real date and you can get your hands on the blackberry 10 fina

what's going on with varney here, your comment, charles.r. in other words, people who have a job, pay their own health insurance, and why should they have to live by your rules. and i want a big gulp, i'll pay for my own hospital. stuart: let me narrow is down. i'm paying for everybody's food stamps, shouldn't i be able to say you don't buy soda with that-- >> the most incredible irony of this thing. every time i hear a new rule, it's against people who are abide buying laws and common sense. when it comes to people who are taking from the government, there are no rules, a good point there. sandra: my problem, this is more reactive than proactive. you're react to go a very inefficient system where you are funding all of these other folks and you feel now responsible for them because we are in such-- >> i'm react to go collectism, if i'm forced to be my brother's keeper, i should be able to call the tune. i should be able to say don't behave like that. sandra: you can have that opinion, but charles and i have don't have to agree with you. st

pleasure to be here, i love the "varney & company."blicly traded companies on the stock market. i am a branding expert in one of the reasons i work so hard at being there promoting my own company and the brands i work it i am the only branding expert in the industry in the first time the reporter did an interview with me and asked me what my company did, i explained to them at that time we had "kush" magazine. i built that magazine from 150,000 growth in less than 18 months. what this industry is poorly lacking is the use of properly running themselves. stuart: you are a branding expert and putting yourself out there, a name and a face at the high-end of high-grade marijuana. is it just the dispensaries or the delivery? you are branding high-end stuff, right? >> that is correct. i lived in dublin hills for 25 years read and then i was diagnosed with cancer. not only through chemo and radiation, but through prohibiting the further growth of tumors. in my work previously i was a branding expert and product placement expert in television.

varney@foxbusiness.com. seven early movers in a down market. have you had your coffee yet?y hurt by lower prices and that stock is down 8%. clothing retailer quicksilver expecting higher income the past year, it's down or dead flat i should say. cruise liner carnival the stock is down. and panasonic considers exiting the plasma tv business, no effect on the stock, it's up 20 cents. disney "oz the great and powerful" the most popular film in america and canada the second week in a row grossed another 42 million and disney stock retreating from the recent all-time highs. and boeing picked ge as the sole supplier of engines for the triple x twin aisle jet expected to launch at the end of the decade. futuristic stuff all the engines made by ge and boeing is down to 85. look the at the share price of ge for a second. no impact there, it's a long-term deal. it's down 20 cents. so no big upward movers so far of the seven earlies. >> and the dow is down 79 points. what else we're watching for you quickly, time is money, in fact, could what's happening in cyprus actually happen here

fox business genius stewart varney. all right. so now it seems that obama care is going to make it more painful for all americans to buy things or am i overstating that? >> no, i don't think you are. the consequences of obama care are negative for businesses and individuals. >> bill: not negative for the millions of people getting the insurance paid. >> that will be true. >> bill: okay. >> if you are pushed on to the public rolls, medicaid, that's not a negative. you are now getting free healthcare. >> bill: some people are benefiting. let's be honest about obama care. some poor people will benefit from it however, the majority of working people who eat at five guys and the other restaurants and this is like red lobster said this. they all say hey, when we have to pay more we're going to pass it on. we are going to raise our prices for food. >> a business like this five guys operation, they have got a choice. they have got to cover their employees if they have got 50 of them and they work more than 30 hours a week. that's going to

"varney & company" on tv. james taylor is 65 years old today although he's looked 65 for the past 40 years, hasn't he? i mean baby james. ♪ how sweet it is to be loved by you ♪ ♪ how sweet it is to be loved by you ♪ ♪ i needed the shelter of someone's arms ♪ ♪ there you were ♪ ♪ i needed someone to understand my ups and downs ♪ ♪ there you were ♪ ♪ with sweet love and devotion ♪ ♪ deeply touching my emotion ♪ ♪ i want to stop, thank you baby ♪ ♪ i want to stop and thank you baby ♪ ♪ yes, i do ♪ ♪ how sweet it is to be loved by you ♪ ♪ imus in the morning ♪ >> do you want compromise? do you want to see the two sides coming together on the budget with a chorus of kumbayah? dream on. ain't going to happen. good morning, everyone. paul ryan's plan released today is near carbon copy of last year's proposal. repeal obamacare, tax reform, build the pipeline. key point, no new taxes, he appears to be playing hardball. same principles, no compromise. tomorrow, we get the democrat's plan. one report suggests they will p

e-mail us now, varney@foxbusiness.com, come on, please.ing. let's start with the world's largest money manager, that would be black rock, laying off 3% of its work force, that would be about 300 people. it is restructuring, virtually not changed on that news. then we have citigroup, it's agreed to pay 730 million dollars to settle a class action suit, brought on behalf of investors who were allegedly misled by the bank disclosures, nonetheless, citi at 46 up about 36. we call this the charles payne principle. electronic arts, the big chief goes and the stock is only down a fraction. then we have lululemon, one of its most popular styles, too see-through, oye, it's down. 4% loss there and back to the charles principle once more. new chief of head phone maker, skull candy, he's out and up goes the stock to the tune of 6%. one last one, big name you know, hess, agreed to sell assets in the alleging shale, it's down. not last one, we've got the biotech, cutting 75% of the work force and may be putting itself on sale. it's cut in half, that's a

"varney & company" is about to begin.traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. weike this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades whenou open an account. neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> in case you were worried, president obama says he has no plan to balance the budget. in an interview with abc news says the top priori

stuart varney is the host of "varney & company" on the fox business network and he is here to answer that question for us. so who wins, who loses? >> heather, let's start with the oozers. the russian mob, number one. losers big-time. they will confiscate 30% or more of those depositers and money in the bank if they have got more than 100,000 euros. a lot of those people are russian. they will lose big-time. secondly, the cypriot people, they lose. the island is already in chaos and they face an economic depression. there are some forecasts that cyprus will lose 20% of its economy. that is a depression. so those two are losers. the russian mob and the peel of cyprus. the winner here so far looks to be germany's angela merkel. she has forced the cypriots to pay up as a price for staying in the euro. they won a major victory getting that money out of cyprus and beating back the russians. there you have it. heather: so you said the russians basically lose their shirts over this. do you think they will take this lying down? what can they do? >> no, they're not. what they can do is up in t

bill: start varney has been listening to all this and the host of "varney & company" on the fox business network. good morning, stuart. >> booed morning, bill. bill: outline each side and start with what paul ryan will propose. >> paul ryan the republicans, their side of the fence says we want to spend $5 trillion less. we want to balance the budget in ten years. we want to repeople out right, repeal obamacare. that is the ryan republican position. on the other side of the defense the democrats are saying we want a balanced approach to these talks. that means we want more tax revenue and we are prepared to talk about entitlements. the two sides not moving very far actually, frankly bill, still far apart. bill: you heard the republican leader in the house john boehner and the senate, mitch mcconnell say they will not move on revenues anymore. they have been there, done that. is there any serious movement you see? >> when you say talk about entitlements, that, is little bit after of give from the democrats. but talking about entitlements and reforming entitlements are two very, very differ

stuart varney is the anchor of "varney & company" on the fox business network. how about this wrinkle, stuart? >> you're right. this is a very fluid situation. all kinds of international skulduggery going on here. in two hours there will be a vote in cyprus, a yes or no vote on this seizure of bank deposits. all indications are it will be a no vote. what then? cyprus doesn't get the bailout from the europeans. in come the russians. they have an offer supposedly that says, we'll give you the cash, we'll bail you out, in return for the rights to all that oil and gas that you've got just off your coastline. at that point, what the europeans do? this they want the russians coming in and seizing control of a big chunk of energy right in the center of europe? it is possible they will come in and say, you voted know on the bank seizure, maybe we'll give you a whole ton of cash anyway so you don't collapse and we'll keep the russians out. that is the kind of international intrigue going on right as we speak, martha. martha: yeah. >> one second. it is possible there will

stuart varney, anchor of "varney & company" on the fox who upwards 40 million people will be paying a whole lot more for their individual coverage after obamacare takes full effect next year. in some cases, the premiums that we will pay will double. remember this is a 17,000 page list of rules for obamacare. it takes full effect next year, january the 1st, and already you can see a great deal of dissent on how to pay for it and what it's actually going to cost and there is real, real concern here, that it won't be implemented properly on time. heather: yeah. all those exchanges. 33 different states, not forming them on their own. >> that's right. heather: thanks so much, stu. we appreciate it. we'll talk a little bit more about it with our political panel later. bill: what do you do with this now? you were counting on this revenue to pay for other aspects of the law. where do you find the money. heather: there are 20 new taxes included to pay for it. bill: we're just getting started. chinese former nasa contractor under suspicion of stealing u.s. secrets appearing in federal court. bo

bill: stuart varney, especially in the jobs market.r of "varney & company" on the fox business network. >> good morning bill. bill: we might hit a record when open today. >> 29 minutes from now the dow jones industrial average very likely we open at a higher level than the previous high close. the previous high was 14,164. we'll probably open right about there this morning. bill: stuart, we mentioned this. why does this not mean more jobs? >> this latest rally, this move to a record high has nothing to do with the underlying economy. this is not the result of a robust economic expansion. this is the result of ben bernanke printing a lot of money. that's why stocks are very close to this all-time high. again nothing to do with the economy. bill: so the markets are flying companies, a good number of them are turning a decent profit is that fair to conclude? >> that is fair to conclude. they are turning very, very good profits. some don't see a bright profit outlook down the road but for now profits are strong. you have all this money fro

stuart varney, anchor of "varney & company" on the fox business network joins me right now.art, where does all this stand now? >> wait until you hear this. there is ultimatum to cyprus, get a deal by monday midnight or you don't get a bailout. banks are closed all the way to next tuesday. stock market is closed. hints of a deal, cash from russia. here is the big one, martha. they're debating right now in the cypriot parliament of idea of seizing pension money. nationalizing semipublic, semiprivate pension fund companies. that is how far they're going. it reminds you of the seizure of private bank deposits, now the seizure of pension money. it is a sign of desperation. things are coming to a he had he. we may be witnessing the first country to leave the euro. that is a possibility at this point. martha: boy, i mean that opens up all kind of questions about whether or not, you know, the euro was a good idea in the first place and whether or not it is part what caused so much of a downdraft in so many of these countries, stuart. >> you know what, martha what made things worryin

we appreciate it. >> you bet. >> all right, more "varney ande.ckly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. i trade like me. voted "best investment services company." >> bird's eye, you know the names, i'm not the only one eating this stuff, but now buy the stock. pinnacle foods traded on the new york stock exchange tailed, and we have the ceo joining us now. bob, congratulations on yipo. >> thank you so much, and thank you for having me on this morning. >> thank you for all the delicious treats you sold to us over the years. i wonder if you will have exercise products because, you know, you got to balance what i'm eatingment i'm helping you out a lot. >> you're missing, though, that the single largest bran is bird's eye, the ultimate health brand. we do everything. it's in moderationment. >> you ha

more varney & company next. ♪ a simple question: how old is the oldest person you've known?ed a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. charles: we have to take you back to this breaking news on the situation in cyprus. when the banks reopen tomorrow there'll be a ban on cashing checks, debit and credit cards will be limited to 5000 euro per month ago i take 3000 euro for cash. this according to reuters. a week and a half for your bank opening this is the news. david: you had a sense something like this would happen. it is impossible to isolate a little thinking community particularly one a

stuart varney is coming in. stuart varney is coming in.t all. [ dylan ] this is one way to keep your underwear clean. this is another! ta-daa! try charmin ultra strong. it cleans so well and you can use up to four times less than the leading value brand. oh! there it is. thanks son. hey! [ female announcer ] charmin ultra strong has a duraclean texture that can help you get clean while still using less. and it's four times stronger versus the leading value brand. charmin ultra strong helps keep you and your underwear clean. we all go. why not enjoy the go with charmin ultra strong? just begin with america's favorite soups. bring out chicken broccoli alfredo. or best-ever meatloaf. go to campbellskitchen.com for recipes, plus a valuable coupon. campbell's. it's amazing what soup can do. [ male announcer ] when it comes to the financial obstacles military families face, we understand. our financial advice is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] [ male announcer ] lif

stuart varney. >> the answer is yes, it would if it were implemented. paul ryan wants to do. number one, he wants to return the work requirement and the time limit. in other words, you can't sit back take the food forever. got to get out there and work for it. number two, he would give block grants to the states. say here, you run the food stamp program. here's how much money you're going to get. do with it what you like. i think, number three, most important, he would return morality to the food stamp program because he would use it as a way to get people out of poverty as opposed to locking them in. i think that's a very moral position to take. >>brian: it becomes a word game. that is why it isn't getting anywhere. republicans don't like poor people. they're trying to take food stamps away as opposed to working through the problem. >> that is how it gets demagogued to death. we're signing up 3,545 people every single day to get on food stamps. you present that number, those facts, and you also say all we're doing is taking the food stamp program back

we have him on "varney" a lot.eally amazing, so much of the human psyche, human aspect, psychological aspect of it, especially when it comes to gambling, everyone i think has taken a shot at something every now and then and idea, a, can you win at this stuff? this is one thing i did. i was asking him about, you know, what can we win at, if we go -- i play blackjack, i swear i do very well but have to play 3:00 in the morning just me and a dealer. otherwise forget about it. table full of people, kill the guy at end. don't take a hit at 19. take a listen to jeff. >> i mean, the odds are against them for sure. i mean the other things that they're saying about legalizing, i.e., poker i think people can make money on because that is not just inherent advantage. you're playing against other people as you say other suckers. but in the case of casino gaming which is like the craps and roulette and those types of things, no, you really can't make money on that. >> essentially, what i had said is, at, some point he was sayin

and tomorrow, "varney & company" talks about how the state department is wrong. >> the department sayshe they contribute 0.01%. >> it is not true. >> you say july. >> that's not true. >> in this case, yes. gerri: wow, hot stuff. much more tomorrow ni gerri: i have a personal question for you. traffic in drugs, cash in 2012 -- if you sold some and made money, the irs wants to know. there is a line to reporting illegal loot on your tax form. if you received a bribe come included in your income, and it gets worse when you scroll down the page, income from illegal activities such as money from dealing illegal drugs must be included in your income on line 21. who would do anything as stupid? joining me now is rich coppa. okay, i don't have the legal income, but if i had the income if i was dealing drugs, i sure would not report it to the irs. what are they thinking? >> you know, as crazy as it sounds, the reality is that the irs wants to record all instances of this. the only benefit of doing this is that you do avoid tax evasion and that is always a big pushback. there are laws that say th

>>brian: tom was on with varney and company.ney and company starts today at 9:20. >> thank you so much. thank you. >>gretchen: just leave after that. >>brian: talking ameri football. remember, it's soccer, stuart. >>steve: brian, i think we could be doing the rest of the show ourselves. >>brian: let her go. i've got to tell her what's ahead. soccer superstar hope solo pre-wedding fight night with her fiancee. >> he wasn't involved in the fight? >> i stunned -- a stun gun actually. >>brian: best buy becoming the latest company saying no more working from your house. is this an assault on working parents everywhere? working parents everywhere? a debate coming up. i'm doing my own sleep study. advil pm® or tylenol pm. the advil pm® guy is spending less time lying awake with annoying aches and pains and more time asleep. advil pm®. the difference is a better night's sleep. with annoying aches and pains and more time asleep. if youthen this willbrids arbe a nice surprise. meet the 5-passenger ford c-max hybrid. c-max come. c-max go.

varney. should i just get up and take this dress off now then? because i've worn this several times before. >> i didn't realize there was such deep trouble coming on "fox & friends" this morning. can i go? >>steve: thank you, stuart. >>gretchen: see you later. cheerio. >>brian: your other stories of the day, a vigil for three crew members on a navy jet killed when their aircraft went down in washington state. they were on a training flight from the would-be island base. their prowler went down in a remote area. no parachutes deployed. the crew's names will not be released until their families have been notified. >>gretchen: they are the most recent victims of hackers. it appears to be the social security numbers and credit card information of 13 celebrities and politicians. some of the targets: vice president joe biden, hillary clinton, kim kardashian, beyonce and donald trump. >>steve: was this driver running on dunkin'? she was definitely running through one. customers jumping out of the way as a car in reverse smashes through a dunkin' donuts

stuart varney is the anchor of varney and company on the fox business network. stuart, they closed the banks, the cypriots got wind of this deal and said i don't think so, the government is not going to take 10% of my taxed money out of my savings account. i'm going to go to the bank and withdraw my money. the cypriotic equivalent of uncle sam, can't do that to me so they shut down the banks. so what happened today? >> the vote on whether or not the cypriot government is going to be able to reach into a private bank and take some of that money, the vote is in absolute chaos, megyn. about an hour ago, the ruling party said it would abstain from taking part in this vote. then it issued a call to delay the vote for one day. then the finance minister of cyprus resigned, but his resignation has not yet been accepted. in other words, this is a chaotic situation and the bailout of the whole country at this moment is in limbo, but to get back to your main point, megyn, you're absolutely right. we've reached an international financial principle here. in the past, if you

stuart varney joins us now, host of "varney & company" on the fox business network.ing. why should we care about this? >> who is next? which other governments which have run up enormous debt will also go towards seizing private bank accounts? who else is next? maybe spain? maybe italy? how about america? is it out of the question totally? that's the bottom line here. who's next. here's the background story. cypress is deeply in debt. they're totally insolvent. they need another $13 billion just to bail them out of their lousy situation. the europeans will give them the money on condition that they tax all private bank accounts. take some money out of everybody's bank account and contribute it toward the repayment of their massive debt there is a new principle involved here. for the first time, a european country is seizing private bank accounts, or part thereof. we never breached that principle before but now they have done it. so it raises the question who is next? spain, deeply in debt? italy, deeply in debt? how about america down the road perhaps, deeply in debt?

stuart varney, anchor of "varney & company" on the fox business network of course. good morning, stuart. good to see you. >> martha. martha: this is the latest example of a business owner who says that the health care plan is forcing him to raise cost, raise prices on consumers. >> that is precisely the situation. mike has eight of the five guys franchises in the raleigh-durham area. he sees obamacare coming at him. it will cost him a lot of money, $60,000 a year to be precise. he is preempting that and say i will raise prices. mike ruffa, five guys, very typical of dilemma faced by literally hundreds of thousands of small businesses all across america. they can see obamacare coming and here's the choices. if they have got 50 employees working more than 30 hours a week each they have to provide them with health care or they can pay a fine. or they can cut their hours of workers so they don't qualify for obamacare or, they can pass through the costs. one of those choices. here it comes. you know you have to do something. in this case they're making burgers more expen

it is not just a company, but varney and company on weekday mornings on fox business network. >>> should our gov focus on love? a democraticesswoman, is there any other kind introduced a bill to create a department of peace building or dopb as i like to call it. it would be a secretary of peace building and deal with domestic issues like gun violence and bullying and then take on international conflicts and then craft classes because we love them. anyway, she says, she invest hundred of billionses each year in the pentagon in war colleges and military academies and our defense university to develop war tactics and strategies. now we they'd that investment in -- now we need that investment in peace and nonviolence. i agree. speaking of international conflicts. >> stewart, it was the peace caw mad me and that sounds awesome. >> i am in favor of peace so long as it follows a smashing victory on our part. i love peace as long as it is a victory. >> that's the peace that matters. dana, is this what america needs? another huge federal agency to solve all of our problems? >> we need the secreta

bill: starting that coverage now, stu varney, host of "varney & company", fox business network.morning to you, stuart. >> good morning bill. bill: what is the story there. >> that is from a tax policy center research group in washington. they say that upper income people are paying a bigger proportion of their income in federal tax now that at any time in 30 years. i'll break it down for you. that top 20%, this year, will pay a 27% tax rate. they will lose 27% of their income to the federal government. the middle 20%, they earn roughly $46,000 a year. that middle 20% will pay 13% to the feds and the bottom 20%, will pay nothing at all. if you look at this overa period of time, upper income people this year will be paying a higher proportion than at any time in 30 years and the middle class and the poor will be paying less. bill: many would argue they are the job creators here. now the rich pay a bigger share because they're taking a bigger share of the income. isn't that reasonable explanation? >> that is and at least a chunk of the truth here but now follow this through, bill.

martha: stuart varney, host of "varney & company" on the fox business network. what do you think about that statement? he says you shouldn't just chase a balanced budget just for the sake of being able to say it is balanced? >> i think the president was spelling out his priority and his priority is not balancing the budget for the sake of balancing the budget. his priority is growth by spending more government money. that i think is his priority. and as you said, martha, that is in sharp contrast to paul ryan who is deliberately going after deficits and the debt and wants to balance in ten years. so you've got two very clear sides here. the president says, spending and debt probably sustainable. paul ryan said, no, it is definitely not. martha: is that debt sustainable, stuart? it's growing like wildfire. >> take a look at right now. at the moment, as of this moment the america's established debt, the total of our debt is the $16.7 trillion. it is going up by around $3.3 billion a day. that means that we're going to hit $17 trillion round-about mid september. re

stuart varney, anchor of "varney & company" on the fox business network. stuart, you think there's a little bit more upward movement here? >> you see this smile, martha? yes, there is. 23 minutes from now, at least at the opening bell the dow jones industrial average will, in all likelihood, almost certainly go up another 50, maybe 60 points. that would put it above 14,300. that would bring the gain, to 9, 9 1/2% just for this calendar year. in other words, martha, the market is ignoring president obama. the president has said, hey, it is armageddon with when we get the budget cuts. the dow plows through that and keeps going up. by the way, the nasdaq, that is where the technology stocks have their niche, the nasdaq is close to the level it was right after the dot-com bust, all the way back to november of the year 2000. that is where technology stocks have struggled back to. smile, martha, we'll to up again in 20 minutes. martha: you think 50, 60 points. i'm curious. why that amount of points? what is telling you that is what the number is today? >> someth

stuart varney. weighing in on this. we'll break it down a little bit more. if you factor in the underemployed which stuart just mentioned, with the unemployed the jobless rate is more like 14.3% in this country. that is more than double the national rate and that affects 23 million americans. theorem employed part time for economic reasons. eight million americans in that basket. the government is saying that the labor force participation rate, this is a huge factor here, 63.5%. making it 14 consecutive months under 64%, the longest stretch we've seen at low, low numbers like that. that is how many americans out there working and part of the participation of the labor market, 63.5%, the lowest number since the 1970s. that's a look at the whole picture. bill: the stock market too has been booming. we'll see if it stays that way when it opens in 22 minutes. when is opens at nine 30. >>> he made no secret of his hatred for the american government. we're awaiting the start of funeral for the late hugo chavez. 30 heads of state joining thousands of mourners inclu

let's talk to stu varney from varney and company. he is obviously backtracking? >> he is.s quite explicit in his friday appearance. he is walking back those comments about armageddon, here it comes. and he's continuing to blame the republicans. and he's sketching out a scenario where the economy worsens because of these cuts. >>brian: he already said it. if things go bad, look at the sequester. >> this week you've got a series of very important economic reports, and they are all almost uniform. they're going to be bad. at the end of this week you'll know we've got a very weak economy. so you can blame the republicans. in fact, what's really going on here is tax increases. the reason that the economy slowed dramatically late last year and continues to slow down this year has nothing to do with sequester cuts that may take effect in the future. it's got everything to do with the tax increases that went into effect on january 1 and the tax increases which president obama is threatening more of as we go down the line. >>gretchen: i think what from us so many -- what frustrates

hostess brands speaking ing oing on varney a this morning. >> we've put in approximately $700 millionthis business up and running in indeed we do feel very confident that these brands have a great place with the american consumer. we want to certainly bring them back and innovate them and make them more relevant going forward so yes, we're quite optimistic. >> that's the latest from the fox business network, giving you the power to prosper. dagen: borrowing from the 401k plan. nearly one in three employees say they took a hardship loan from the 401k last year that's up from one in four back in 2011. so what's causing this? according to financial finesse, lower income and younger workers need the money despite the improving job market. hardship loans, they must be paid back to your retirement account if you leave your employer and you have to essentially pay yourself interest but we should note there was a recent bank of america, merrill lynch study that said 401k loan transactions, new ones, they were down 5% from a year ago and total hardship and in-service withdrawals were also down

stuart varney joins me now, the anchor of "varney & company" on the fox business network. boy, that is a tough number for them to cope with, stuart. >> those numbers are horrendous. the truth is europe is out front of us. europe is already in a very, very serious recession and that unemployment figure, 11.9% as we said is horrendous. now why is europe in this position? for many years now they have been taking money out of the economy, trying to repay and stablize their debt with this austerity program. we've got a new report from george mason university and a colleague from harvard who said the main part of that austerity program was tax increases. that was the main part of this austerity, taking money out of the economy, with tax increases, and that's produced this recession. now that's mirrored over here. right now in america we've got a dead flat economy. very, very weak economy. in large part because of the tax increases we've put in on january the 1st and the likelihood of more tax increases to come from president obama. so they're ahead of us over there. we're going

stuart varney here with the facts. do you have your dog?llis report sign. >> gretchen: come on in. i have a cold, and i took nyquil, but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! progress-oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your progress-oh! story on facebook. how do you keep an older car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotated, you have to get that done as well. jackie, tell me why somebody should bring they're car here to the ford dealership for service instead of any one of those other places out there. they are going to take care of my car because this is where it came from. price is right no problem, t

certainly, are the following, and in there, i was surprised to see california because everybody, varney basis saying, oh, businesses want to leave there. why is california within this group that includes north carolina, florida, texas, and virginia? >> certainly. you know, what we're looking for, those companies that are situated to where they can have a competitive advantage, and one of the competitive vangs that california has is intellectual resources in the technology sector so if you look at the research triangle in north carolina, if you look at the palo alto and silicon valley in california, you got the intellectual talent that's there, and you can tap the talent, particularly tied to universities and encourage the costs of the individual, so certainly it makes sense to look at california and north carolina as technologically advanced areas. liz: your fund is beating the s&p, up 19% year over year versus 13 and change percent for the s&p. i want to get to the names you pick. the biggest holdings, these are different. you got -- in essence r you focus on agriculture, something tha

stuart: you've expressed on "varney & company" if you cut government spending you improve the economy, you don't waste the economy. and i agree with you. those cuts hadn't started. the jobs numbers start going down, i think people are going to start saying these cuts are having the kind of austerity effects they're having this europe. stuart: okay, well, that's a separate argument and we'll get to it. i'm sure we'll get to it next month, austan and i look forward to it. let me give you some of my perspective. there are still today 3 million fewer jobs than there were in 2007. so i'm saying, look, we're recovering, but ever so gradually and it's nowhere near good enough yet. your comments. >> i somewhat concur with that. now, you want to be a little careful because you know the population has aged some gradually, but if you're going to compare four or five years ago, the number of employed people is influenced by how many people retire, but i think at the weakest part of the job market which you have highlighted in the past is the labor force participation, that there have been a lot o