"varney & company" is about to begin. has different investment objectives, ideas, goals, appetite for risk. you can't say 'one si fits all'. it doesn't.hat's crazy. we're all totally different. ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ...amelia... 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. >> good morning, "varney & company" viewers, here is the headlines. president obama loses a round. he wanted pa

on "varney and company" we're calling that a nondenial denial.erested in this because the irs, we are financial people. they put out in their handbook and the irs in 2009 yes, we can look at your e-mails, no warrant. now this is considered a nondenial denial. explain. >> the key word there is "targets." they're going around a recent federal courtroom, the federal courts have ruled you cannot do this. you cannot sneak a subpoena to gmail and say i watch stuart varney at gmail private account. but that really, really only helps in certain states. stuart: this is going around that. >> the aclu brought this issue to light, they say the irs, if they think stuart varney checked off that he went to rome, italy, for business and they think it is for pleasure. and they hack into the personal e-mail and they see you wrote to charles i. am going to be suckered in, i did the best restaurant, this will be a relaxing week for me. they can get that e-mail and stuart come you said this was a business, look at your e-mail, it is personal, you are arrested, in tro

the fact is, so far 2013 has been terrific and "varney & company" is about to begin.ut we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. . . stuart: good morning, "varney & company" viewers today is tuesday, april 2nd, here are the headlines we have for you today. a green energy sheet says no more of subsidies, thank you, he says that green subsidies is hurting the industry and making. he doesn't want them. a judge says yes to stockton, california, it can file bankruptcy. can it wipe out unions contractors and what it owes to the public worker pension fun. we talked about mass migration from high-tech states to low tech states. and now the numbers to prove it. they're moving from

varney@foxbusiness.com.r your seven early movers this tuesday morning and surely we've got upside movers with the dow up nearly 100 points and the dow component, travelers posts record profit, raises its dividend and surely it's up, 2%. up two bucks there. texas instruments says demand has increased, but customers are still cautious, nonetheless, the stock is up a little. disappointing profits from rent center. i'm not sure what they do. higher profit and more money coming in as another dow component united technologies, okay? and that stock is, basically flat. better than expected profit, the biotech company, illumina and it's up nicely, 12%. dupont, another dow stock, that is. profit doubles as midwestern drought boosts farm sales and it's up, not that much on that kind of profit report. we've got some disappointing results from radioshack and there you go, dead flat, up 3 cents. that's it. and look at the big board again, we're eight minutes into the trading session on tuesday morning, nicely higher. 86 p

♪ ♪ imus in the morning ♪ >> morning, everyone, welcome to "varney & company." like another win for stocks as the new week begins. not a huge rally, but enough to wipe out the jobs report plunge. look, there's a long list of problems, north korea, europe, the disability fund running out of money, few jobs, out of control, we've got it all, but this stock market seems to want to go up and it will when the trading starts. and we have one very sad note this monday morning. a champion of capitalism and freedom is no longer with us. margaret thatcher is dead at the age of 87. thank you orville and wilbur... ...amelia... 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. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology

stuart: we've got a big day on "varney & company."wn nearly 160, a whole new hour of our program is just ahead with this. an explosion of the number of people on social security disability, huge, i mean, just a huge extra number. we've got a big doctor shortage coming under obamacare as well and the bird flu fears in china. big stories one and all and they affect you. details next. girl vo: i'm pretty conservative. very logical thinker. (laughs) i'm telling you right now, the girl back at home would absolutely not have taken a zip line in the jungle. (screams) i'm really glad that girl stayed at home. vo: expedia helps 30 million avelers a month find what they're looking for. one traveler at a time. expedia. find yours. how old is the oldest person you've known? we gave people a sticker and had them show us. we learned 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 mak

"varney & company" is about to begin. thank you orville and wilbur... ...amelia... 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 thoand 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. >> all right. the your flight is delayed ap you're sitting in the airport and you are angry. the white house wants to channel that anger away from the president. the white house is blaming congress. listen to jay carney yesterday. >> we made it clear that there would be these kinds of negatives effects if congress failed to take reasonable action. >> congress, congress, congress. all right, here is what we reported yesterday. it contradicts carney. we said president obama passed up the opportunity to allow flexibility and he said, no, we're not going to target the cut to nonessential areas. we said, the pain is deliberate and you're feeling it

a new hour of "varney & company." it is monday, april 29.e close to a cure for hiv. novartis under investigation. did they try to buy doctors with trips to hooters? bernanke. what happens if he keeps on printing? david stockman says disaster either way. your 401(k) looks better. ♪ stuart: when bernanke stops printing, the party is over. this is a man who said ripples through the financial universe. his name is david stockman. welcome back. >> thank you. stuart: that dow is up for 200,050. if bernanke heads he is stopping printing money, we go straight down. if he keeps on printing, we have a different crisis and the market will go down. >> yes. they have the money market rate at zero. they have managed and rigged the entire yield curve. nothing is real out there. now the speculators are basically say as long as the fed can hold the bond price of and keep shoveling out free overnight money, it is safe to get in the trade. they are not there to own it, they aren't there to rent it. stuart: bernanke and he will stop printing or some kind of fin

so, welcome, everyone, "varney & company" is about to begin.e gave people a sticker and had them show us. we learned 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. ♪ we don't let frequent heartburn come between and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur >> all right. private enterprise soaring into space. there she goes, look at that. this is the first test flight for virgin galactic that wants to be the first commercial spaceliner. and it landed safely. virgin's founder branson, who was recently on the program, says he hopes to have test flights later this year and passenger flights later next year. you've got to liste

a new hour of varney & company starts right now. ♪ check the new york stock exchange.today. bouncing back today. we are up 54 points. the bad drop yesterday it was caused by a san francisco official. this morning, we have a lousy jobs report. that maybe means bernanke will keep on printing money. let's see what charles thinks. lou: the idea that the fed would stop printing on he would mean that the economy is back on its feet. stuart: it is not back on its feet. charles: i am not saying that it is. somehow that transition happens between now and the summer, all in all, the last big rallies that we had to okay we are going to stop printing and raise rates, the market dipped both times. they turned around and the rally lasted either another 40 months or another 70 months. stuart: i say that the dow is up this morning. bernanke will keep on printing. >> i disagree. stuart: you are wrong again. charles: i am one of the few people that is right on this thing. what is the definition of inflation rusher mark too much money chasing too much good. speak to stay out of this. [ l

"varney & company" is about to begin.le production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [organ music playing] >> we did it. dare we put personal computers on? . the research firm says global shipments of pc's down 14% in the first quarter. the biggest drop they tracked numbers. windows 8 that software a flop. mobile grows, pc's die. and by the way, goldman has microsoft on its sell list and that stock is going to be down at the opening bell. i'm in mourning. and how about confidence, 31% of people say the country is headed in the right direction. ed butowsky is here, he manages money. i'm going to read that as a total lack of confidence. are you surprised? >> i'm n

varney's show. >> mr. varney. adam: mr. varney. call him other things personally you about that sendly to his face. the deal in washington, says a plague on everyone's house, ben bernanke, both political parties. we have a sound bite what he had to say. >> sure. adam: want to get your reaction. >> what i do know this market lives and dies by the last word of the fed and the people at the fed have no clue what they're doing. bernanke is the most dangerous man ever to hold high financial in the history of the united states. >> well, i think that there may be some hyperbole there as david stockman is wont to offer. are there issues? absolutely. is the money supply, you know, and, and, the balance sheet larger than we would like to see? absolutely. but without it, we would have, i think, a round of deflation the likes of which would be crippling. we've got to maintain some perspective and david stockman is a bright guy. he knows better than this. lori: why is he such a doom sayer? why he is trying to get everyone to run to the exits? >

if you have a tattoo you're out of the will at varney household.ed up about the head coach, rick pitino? what's to be fired up. and charles payne is here, his reactions to tattoo and rick pitino and louisville in a moment. ♪ in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> i don't like tattoos, don't want my kids to have tattoos. donald trump doesn't like his five or six kids to have tattoos. we're with you. see? long time "varney & company" viewers know i detest tattoos and now we have this. rick pitino coach of the winning louisville cardinals says he's going to get one after last night. >> well, the 12, 13 games ag

"varney & company" is about to begin.nt out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned 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 offial retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ >> do we have another example of apple losing its cool in listen to this. according to the wall street journal, apple is going to release two new iphones this summer, a smaller cheaper version along with a refreshed iphone that sounds a whole lot like the current model. so, no new flashy product, no cool new phone, a rehash of what we've seen. tim cook has been struggling as apple's chief executive. and what would steve jobs say about cheaper and rehashed iphones? look how apple is expected to open today. up very, very slightly at 431, but way below the $705 that app

we're following that and this market rally in a brand new hour of "varney & company," which comes upe spark miles card from capital one, bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] gethe spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button? all your imptant legal matters in just minutes. protect youramily... and launch youdreams. at legalzoom.com we put the law on your side. and launch youdreams. if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 ho

let's ask stuart varney. why?ystem we've got in place -- not just disability -- is not disability. the big picture is this. you've got a static to declining number of people working full time. they are supporting an ever larger group of people who are disabled, retired, dropped out of the workforce, or they're just not working. 90 million americans. i can't have that. that is not sustainable. in the case of disability, as you said, gretchen, you've got over eight million total on disability. there are now 13 full-time workers for every one on disability. >>steve: that's all? >> that's all. that's all you've got. >>gretchen: what's happened? is it that many more people who have become disabled? a lot of experts say nothing has really changed in the workplace for safety. if anything, it's gotten better for people. >> it is a question of how you define disabled. i think it was in the mid-1980's we allowed muscular skeletal disorders. back pain. you cannot prove or disprove you've got back pain. 29% of current claimer

"varney & company" is about to begin. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪nouncer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >> good morning, everyone, sorry to tell you this, but here comes maximum pain. air travelers, listen up. your chances of a flight delay just went up. those furloughs are in place for air traffic contollers, they've got to take one day off every two weeks. ra ray lahood, the same may that told us to drive toyotas, he said they're unavoidable. sequester cuts are here and they're at the airport. extensive flooding in the midwest and more rain is headed there, they've been measuring the rain in inches and forecasters say there is more to come. another inch, maybe more than that, predicted for much of the area through tomorrow. big floods there. to the markets, we will open modestly higher today. stocks will be up. we're looking at about 40, 45 point gain. we woul

welcome, i'm stuart varney in for neil cavuto. home prices on the upswing, soaring more than 10% in february, the biggest increase in 7 years. nevada, arizona, california, all seeing solid gains year over year and the supply of homes rising for the first time in a year. all of this suggesting people are getting more confidence in the housing recovery. at the same time, the white house says too many perspective buyers are left behind. the administration said to be pressuring banks to lend more, even to people with weak credit. the justice department will provide assurances to banks they won't face action. isn't that how we get into the housing mess? katrina is very concerned and sees is with campian real estate. >> this is how we got into the housing bubble. the fact that in 1995, one of the reasons we actually had a housing bubble was because bill clinton, in an effort to encourage people to buy, especially lower income brackets, he revised the community reinvestment act and encouraged people to buy but it encouraged the wrong peo

smile, everyone, "varney & smile, everyone, "varney & company" is about to begin. u still sleeping?o check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. how old is the oldest person you've known? we gave people a sticker and had them show us. we learned 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. ♪ >> all right. everyone, this is a stock alert. a news alert. the dow will open higher, and moment ago the federal reserve released a report, says, quote, joblessness is still elevated. there is no confidence in a substantial improvement. okay, here is where we stand. ben bernanke will keep on printing money as long as the unemployment rate stays up. he's not confident it's going to come down, therefore, ben is going to keep on printing

varney's record.ds for which there's a greater expectation of privacy, then walking in the street, you need to make a greater showing of why you need it. >> okay. the british started this, london is covered with surveillance cameras, operated by the police. >> well, you don't have a fourth amendment. >> no. >> you no longer have the right to privacy in great britain. >> how do you feel about walking around a big city like london where you are on camera, and somewhere in the region of 500 times a day. >> the reason i smile is because we have been agreeing so wonderfulfully on everything discussed hereto jr. fore. >> yes. >> i think big brother is repellant, and i don't want to be watched. i don't want to live in a society where the government knows my every move. >> you said in the square where the bombing occurred in boston, that's what happened. >> you asked if i liked it, not if it's constitutional. it's constitutional for the government to put cameras in the streets, but that leads us to east germa

stuart varney and dana perino, what liberals policies are causing california's failure and why texasso successful. and later, don't blame gang violence in chicago and murder rate on the mayor. no, blame the n.r.a. that message coming from david axelrod and we have his outrageous comments right here on sean hannity. it's marching to the beat of a different drum. and where beauty meets brains. it's big ideas with smaller footprints. and knowing there's always more in the world to see. it's the all-new lincoln mkz. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly 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. voted "best investment services company." at tyco integrated security, we consider ourselves business optihow?rs. by building custom security solutions that integrate video, access control

dana perino, stuart varney, they beg to differ. they're coming up next. and later to come, a 15-year-old girl captivated maryland state lawmakers her powerful words. she'll explain to president obama why he should be working to protect the rights of americans. and follow the live show. we want to hear your thoughts. go to my web site. on twitter, you can tell us what you think on seanhannity. this day calls you. to fight chronic osteoarthritis pain. to fight chronic low back pain. to take action. to take the next step. today, y will know you did something for your pain. cymbalta can help. cymbalta is a pain reliever fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can helpeduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. anti-depressants can increase these in children, teens, and young adults. cymbalta inot for children under 18. people taking maois, linezolid or thioridazine or with uncontrolled glaucoma should not take cymbal

stuart varney and dana perino, what liberals policies are causing california's failure and why texasso successful. and later, don't blame gang violence in chicago and murder rate on the mayor. no, blame the n.r.a. that message coming from david [ engine sputters ] [ dennis ] allstate wants everyone to be protected on the road. whether you're an allstate customer or not. all you have to do is call. [ female announcer ] call and sign up for good hands roadside assistance today. [ dennis ] are you in good hands? >> it's no secret that president obama's economic policies failed the nation as a whole. honesty we'll compare at a state level. on the one hand let's look at california, implemented an economic agenda similar to president obama's and on the other hand look at the state of texas and smart, conservative decisions far from those of the administration. and so let's start with the liberal golden state of california which is currently 78.9 billion dollars in debt. and they have nearly two dozen cities facing bankruptcy and unemployment rate stands at whopping .96% which is the highes

dana perino, stuart varney, they beg to differ. they're coming up next.nd later to come, a 15-year-old girl captivated maryland state lawmakers her powerful words. she'll explain to president obama why he should be working to protect the rights of americans. and follow the live show. we want to hear your thoughts. go to my web site. on twitter, you can tell us what you think on seanhannity. and we'll continue [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. @ yes, you could. hello! how sharp is your business security? can it help protect your people and property, while keeping out threats to your operations? it's not working! yes it is. welcome to tyco integrated security. with world-class monitorin

stu varney. after helping to elect president obama not once, but twice, hollywood is asking for something in return. how the stars want the laws to change. not people's behavior, but the laws governing the behavior and the letter they just sent to the white house. and the man claims he narrowly escaped a bear attack in his own back yard. wait until you see how he's punished for defending himself. >> i was right about here when i took my first shot. the new guy is loaded with protein! i'll believe it when i--- [ both ] oooooh... [ female announcer ] as you get older, protein is an important part of staying active and strong. ensure high protein... fifty percent of your daily value of protein. low fat and five grams of sugars. [ major nutrition ] ensure! nutrition in charge! >> fox news alert out of houston, texas now. we're getting reports of multiple people stabbed on a college campus. we are hearing between five and eight people were attacked on the campus of lone star college in houston. at lea

stu varney is the anchor of varney and company.eft leaning lawyer whose opinion i respect, had a guest blogger wrote in, who wrote a lengthy piece outraged by what he says is the fact that it could happen here, talking right now, what we don't realize when you deposit money in the bank, that money is the property of the bank. you are an unsecured creditor, but that money, if i put it in the bank right now belongs to the bank, it doesn't belong to me. >> okay, let me try and explain all of this. right from the start, i would say the following: your insured bank deposit is dead safe, no seizure, it will not happen here. however, these big international institutions are writing rules and opening a door a crack to the seizure of your uninsured deposits. >> includes our own fdic. >> and a source on that one. the fdic issued a joint declaration with the bank of england, december of last year. and they laid out a plan for the seizure of private deposits, if a bank got into real trouble. and at that point, the fdic said there would be no e

. >> welcome to "the journal editorial report," i'm stuart varney if this week for paul gigot. at long last, president obama released his budget for 2014 this week, calling it a fiscally responsible blueprint for middle class jobs and growth. and pitching it as a peace offering to republicans. but after looking at the details, shouldn't we be hoping for gridlock? dan henninger, james freeman and kim strassel. dan, hoping for gridlock? you don't like this? >> it sounds good for me based on what i heard president obama say, so, on the one hand he says, in the past we've been trying to reduce deficits at all costs. that means cutting spending, as opposed to making some of the investments we need which means increasing spending and he says he felt solved it, he has, increased spending, and here is an interesting fact. before 2008 spending, federal spending was 2.7 trillion dollars. in this budget, it's 3.7 trillion dollars. obama has increased spending in four years by a trillion dollars. now, he's doing that because he wants it pay for infrastructure, high speed rail, electric car

stuart varney anchor of "varney & company" on the fox business network and he joins us live. stu, help me understand this. for tens of millions of americans who are unemployed and for a long time, the job participation rate at the lowest level since the jimmy carter years in 1979 yet look at wall street. what's the deal? >> forget the job market. forget the stagnant economy. concentrate on money being printed big-time all around the world. we're talking trillions of new yen. trillions of new dollars. first of all, just look at japan. there is a new buy there running the printing presses cranking them up like never before the yen is going down in value. japanese investors pouring money into dollar stocks on wall street. pushing wall street up because of money printing over there. ben bernanke is doing exactly the same thing here. he makes bonds and bank cds look very unattractive. money comes out of there and goes into cheap and rising wall street stocks. the result is, we closed yesterday at 14,63. we will open higher again today at another record. we may crack 14,700 in the

stu varney, anchor of "varney & company" on the fox business network. what goes up must go down eventually. >> hold your horses, gregg. gregg: i won't be the pessimist, i'm sorry. >> not today. first of all i will give you the jobs numbers. about 40 minutes ago we got news from the labor department the layoff trend eased up a bit last week. just 346,000 layoffs last week. that is still a very, have he high number. a slight improvement from the week before. it does not change the equation on wall street which is this. ben will keep on printing money. the whole world will keep on printing money. profits in american corporations remain strong. therefores as of this morning that opening bell rings in 22 minutes time the dow jones industrial average will go up again, not much. 10 points maybe. but it will go up. it's not going to be the big selloff at the opening bell today. up 10. gregg: you know, stu, the more money you print, you and i have been talking about, the more money you print the risk of inflation down the road right? >> we haven't seen it so far

. ♪ @ ♪ stuart: the good news, top democrat watches varney and company.oes not like what he sees. we will cover that new at 10:00 o'clock. gary: is a top-level bureaucrat working on obamacare. he says he is "pretty nervous." here is my take. first of all, i have lived and worked in third world countries. i know how frustrating it can be. you think our motors vehicle department is bad? you do not know the half of it. obamacare reorganizes. they will make rules for you. they will tell you what you are going to get and what you must pay for it. that is third world. government workers administrating rules. are you working for this? mind numbing paperwork to get government care. many of the rules have yet to be written. many of those health insurance exchanges have yet to be set up. bureaucracy moves oh so slowly. obamacare looks like it train wreck and here it comes. i will digress for a moment with a brief example of my third world experience. mailing a letter in a country that i will name. you go to line one to wave the letter. line two to buy this stamp. l

stuart varney, anchor of "varney & company" on the fox business network. what do you see in this report? >> i would say it is a very bad report. i would go to far far to say it is dreadful. you can't say we're in a strong economic recovery. we're not. bill: 88,000 jobs were created. we expected 200,000 jobs, right? >> that is miniscule number. it's not where it is supposed to be. we've got 132 million jobs in this country and a growing population. you have to do better than 88,000 new jobs. bill: what about the participation rate i should say? that's very important. what does it say about the number of people who are in the workforce today? >> that's probably the worst part of this report because the labor participation rate has dropped to the lowest level since may of 1979. you're back to the participation rate of jimmy carter. this speaks volumes about the number of people who are flat-out discouraged, just dropping out of the workforce. it is a very unhealthy economic signal. bill: go to martha's point. the rate dropped 7.6%. why did that go down if all

stuart varney is anchor of "varney & company" on fox business network. stu, good to see you. you and i were talking a few minutes ago in the hallway. i think when you add up actually all of the additional taxes the president now wants, it might come to about $800 billion. but look, what does that do to an economy? >> that's the question that the republicans are asking at this point. what do you do in a weak economy if you raise taxes again? go back to january the 1st, gregg. taxes were raised for everybody as of january the 1st. for wealthier people they were raised a lot. the result can be seen in last friday's dismal jobs report. a very weak employment situation, blamed largely on those tax increases that went into effect january the 1st. do that again and the implication is that you weaken the economy even more. gregg, there are two main areas where there is a proposal to raise taxes. number one, cap the deductions available to wealthier people. number two, cap private pension plans at a certain level. those are the two big items of tax increases in this proposal. we will

stuart varney is anchor of "varney & company" on the fox business network. you know, stu, it is getting close to the danger zone of 90%. >> well, look the president uses government spending. that is his policy, to juice up the economy and it is spelled out in his budget. spending will go up in each of the next four years and it will actually hit $4 trillion in the fiscal year 2015. no president has ever spent $4 trillion in one year before. so on the one hand, spending goes straight up. on the other hand, taxes are also going to go up certainly on wealthy people. they have already gone up on january the 1st. this budget calls for another trillion dollars to be taken off relatively wealthy people over the next 10 years. so, gregg, spell it out, an increase in spending an increase in taxation. will that produce the rate of growth that we're looking for four or 5%? that is the question surrounding this budget and america's basic finances. gregg: it was only in 2008, stuart, that debt was 40 percent of gdp and soon, it is going to hit 78% and then, according to

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stuart varney, anchor of "varney & company" of the fox business network. put this together. where are we? >> two pillars to the financial well-being, stocks and your house. you're looking good on both of them. number one, ben bernanke printing up a storm. a lot of that extra money is finding its way into the stock market and various indicators are all at record highs as of right now. s&p 500, the nasdaq, the dow is within 100 points of 15,000, or a couple hundred points. so stocks up. everybody benefits. number two, home prices, up 9.3% over the past year. best yearly gain since 06. more importantly, home prices in each of the 20 big city areas studied went up. nowhere did prices go down. so you add it all up. what you've got is, ben bernanke, printing a lot of money, raising stocks, raising home prices and hoping that there's a wealth effect. we all feel better off. so we go out and spend. and we improve the third pillar of the financial well-being which is your job. bill: inflation is kept in check for now. >> yes. bill: interest rates still near historical lows? >> yes. b

here to explain is the host of varney and company, stuart varney. it's my understanding this has something to do with i.r.s. section 280-e. i study the i.r.s. code every night. it keeps me up at night. >> it is a way of going to sleep. there is a clash between federal law and state law over legal marijuana. state law, colorado, for example, it is legal. you can sell it, have a dispensery. put it out there. federal law says no, you can't. because federal law says no, you can't do that, they tax you. you do not get the tax breaks that all other businesses get. if you're a marijuana dispensery in colorado or anyplace else. that is putting some of these dispenseries out of business. >>steve: when you look at the numbers, they are jaw dropping. with a regular business when you can deduct certain things legally, you might pay a top rate of 45%. but these pot growers according to the law can't use those deductions although they are being challenged by the i.r.s. and court system. they're being taxed to the tune of 70%, which would knock a normal business o

here with his analysis is stu varney. i know what you're going to say. >> go ahead and say it for phaoefplt >>gretchen: it is not a good idea. >> the president long said, long implied that he wants to get spending under control and that this budget would not really raise spending. wrong on all counts. i don't think the president ever intended to rein in spending, and this budget proves it. $4 trillion in one year, never seen that before. now look at the other side of the fence. how about deficits. under the president's budget plan, the deficit will always be double what it was in the last year of the bush presidency. in other words, pre-obama, the high for the deficit was $458 billion. under obama for eight years and beyond, it will always be double that number. >>brian: here's what we do have, record revenue coming into this country, with the tax increase and the economy getting on track. the president does have in play just in growth alone but he's going beyond that. >> this new budget costs another $1 trillion to be ta

>>steve: check it out later today on varney and company.aight ahead, a memorial for a fallen soldier now forced to come down. why? they didn't is a permit. a vet who served with that hero joins us live next. >> you've seen it in the movies. the car plunges into the water. but what if you had only seconds to save your own life? how do you get out? anna kooiman goes under water. that's her right there to show us how to get out alive. oh my goodness. what do you think? thats's great. it won't take long, will it? nah. ok! this won't take long, will it? no, not at all. how many of these can we do on our budget? more than you think. that didn't take very long did it! this spring, dig in and save. that's nice, post it. already did. more saving. more doing. that's the power of the home depot. dig in and save with earthgro mulch, a special buy at 3 bags for just 10 bucks. (alarm clock buzzer) ♪ (announcer) friskies. now serving breakfast. by the armful? by the barrelful? e carful? how about...by the bowlful? campbell's soups give you nutrition, ener

varney and company coming up at 9:20. up next, no passport? no problem t.n some places, our borders are so wide open that you could just waltz through. and better believe people are taking advantage. like him and her. and "jurassic park" is back. but is it worth the extra price for 3 d? kevin mccarthy is here with some funny glasses. >> what do they got in there? king k mine was earned in djibouti, africa, 2004. the battle of bataan, 1942. [ all ] fort benning, georgia, in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation because it offers a superior level of protection and because usaa's commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto-insurance quote. usaa. we know what it means to serve. using telemedical and mobile technologies, verizon innovators are connecting trauma surgeons to patients in the field. helping them get the attention they need, before they even reach the hospital. because the world's biggest challenges deserve even bigger solutio

david stockman was on "varney and company."ece, incredibly, incredibly pessimistic about the u.s. economy and railed against ben bernanke. i want to play a sound bite and get your reaction on the other side. >> entire wall street is medicated, driven by fed policy. the interest rate isn't a real free market interest rate anymore. three-year rate, 10-year rate, all of them are set against the fed. fast money traders are trading against the fed. they will sell the bond as fast as they thought it. the stock market trades entirely on whether there's more juice coming from the fed and whether the smoke signals are real. cheryl: does he have a point? >> definitely has a point. we've talked numerous times on your show that the most important driver of the equity market's performance and the overall market performance has been the easy monetary policies of the fed and the stimulus that it can provide. that is true and people are watching to see what signs of exit and what signs of change but the reality is i think that story is half ba

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let's ask stuart varney. good to see you.o that snippet from the president and that was a different message from four years ago when he was talking about the surplus plan and 800-some billion dollars of taxpayer money. >> the stimulus plan was $860 billion passed three and a half years ago, widely judged to be a failure. the president's infrastructure plan this time around is $21 billion. that's a vastly scaled-down plan. $21 billion, that is really small. it suggests to me the president is losing the argument. his argument is that you create prosperity, you get the economy going by government spending on infrastructure projects, for example. the failure of the original stimulus plan was such that there's no heart anymore, certainly not in congress, to spend more government money, which we don't have, on infrastructure projects. so he's come up with essentially a very small plan, $21 billion, and he's casting around for other money to come in, private-sector money. it's really an infrastructure program that's very small and h

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stuart varney, anchor of "varney & company" on fox business network joins me now. stuart, good morning to you. what do you think of this morning? >> sounds good. that's the headline. sounds good but it's not. late last year the economy was growing barely. now we've got a 2 1/2% annualized growth. it sounds good but it really is not. in fact, this may be the high point for the entire year. this may be as good as it gets because all kinds of tax increases are beginning to bite. we have the social security tax increase january the 1st. tax the rich, january the 1st. state taxes went up notably in california. then we've got the sequester cuts. all of this is taking money out of the economy and it will reduce the growth rate for the rest of the year. economists are basically saying our spring hopes have been dashed yet again. third year in a row. not good numbers today. martha: what's the market reaction likely to be to this? and you know, is it a sign because no doubt the administration will feel pretty good about this number and they will have an argument that it is a

i'm stewart varney and this your world, not the news janet napolitano wants to hear, an agent who says the real number of people crossing the bored el illegal is startling. an agent so afraid of retaliation, refuses to reveal his name and claims this type of intimidation is commonplace. guy, why is there such a huge difference between what janet napolitano is saying about border security and what this unidentified agent is saying? >> first of all,let me clarify that town hal did break the story but it was my colleague, katy, who has really been working very hard on this over the last few days, talking to border patrol agents and texas and sheriff's departments as well and she is hearing anecdotal evidence, as we're starting to get closer and closer potentially to a political deal over comprehensive immigration reform indianapolis on the ground, according to her, are saying that the flow across the border has doubled if not tripled. >> the implication being that there's a sudden rush to get across the border to take advantage of the talk and the impending legislation if it happens. >> t

stuart varney joins us now. he is anchor of "varney & company" on the fox business network. so many levels on this one, stuart. how a huge news service like the ap, how their twitter account could be hacked into with a message like that is the first question. and the second, how about that reaction in the market? >> okay. here's what happened. stock trading computers are programmed to scan the news. news bulletins from ap for example. they're looking for key words like explosion, white house, president, obama. they read those words in that fake ap tweet and immediately triggered massive selling stock. no human beings involved whatsoever. it was computer-generated because they have this algorithm to scan a news bulletin. down went the dow, off 147 points in a three-minute period. about 150, maybe $200 billion worth wiped out. okay, it was all restored but there is a couple of conclusions to draw from this. number one, we have not really mastered the art of computerized stock trading. our financial system is still amenable to attack, manipulation and certainly technical breakd

stuart varney joins me now, host of "varney & company" on the fox business network. good morning, stuart. >> good morning, martha. martha: what about this italy situation? >> high anxiety time for relatively ordinary people across all of europe. what you have, martha, is parallel banking stories here. with cyprus. as you said, big investors, big depositers in banks in cyprus will certainly lose 40% of their money, maybe 60%, maybe even more. there is a breach of principle there. what used to be your money is now ours. go to this bank in italy. this bank, third largest lender in the country. they had to be bailed out last month. and over the weekend their top guy said that we have deposits have fallen by a few billion euros. that means people are worried about their money in this bank. they have lined up to take money out, taking their deposits out because they see what has happened in cyprus. it is not our money any longer. it might be your money now. and that's got everybody worried across europe. big deal. martha: it is so incredible, stuart. when you think about w