senator john thune is on the finance committee. what do you think of that statement, is there an immediate crisis or not? it s amazing what a deaf ear the president has to what s going on around us. 16.7 trillion dollars in debt will add 10 trillion dollars to it over the next decade and while the president s been in office we ve added 6 trillion dollars to the debt and he also made the comment, in the last couple of days, that he didn t want to balance the budget just for sake of balancing the budget. why else weren t you balance the budget? you balance the budget because you ve got to get control of the run away spending and the run away debt and he keeps piling on more and more spending and now, they want yet even much higher taxes. why do you think he said that? do you think they sort of was careless in his speech and thinking immediate, meaning he s got other more important things like social security, or medicare, i mean, those are the things we could probably that s a prob
debt is $16.7 trillion. he spent more in his current administration, more than any other administration had. all together, up til president clinton. so obviously the spending continues and worrying about the balanced budget right now is not the main focus at this time. got to tell you, our markets, we ve been up and we had seven consecutive record closes for the dow jones industrial. you remember 2009 when we were at 6500. we re up 120%. so certainly had a nice run for the stock market and some names i ll be watching today will include black berry. they got an order for 1 million blackberry 10s. that s a good one. and twitter and apple because we have news on twitter. they plan mobile music app using sound cloud. that will be another piece of news to watch. steve: and the market, of course, opens 52 minutes from right now. we thank you very much for the very latest. alisyn: thank you. brian: someone else has a blackberry besides us. steve: apparently they re
to work, and if we do that, we re going to be bringing in more revenue. 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 de
that is almost four years since they have done one of the most basic elements of their job. at that time it wasn t the budget. it was a guideline for producing a budget. try to imagine getting away with that. that is your job. bill: tough to plan. as we mentioned earlier, national debt topped 16 trillion. 16.7 trillion. a $6 trillion or 57% increase and the last four years, 36% of that debt, accumulating under the current president obama. our annual deficit also exceeded one trillion dollars for each of the past four years. we re looking at 17 trillion from . martha: buying a burger is about to get more expensive at some five guys hamburger joints, one of my favorite places to get a burger. one franchise owner has to hike prices in order to pay off the bills from president obama s health care law. stuart varney, anchor of varney & company on the fox business network of course. good morning, stuart.
steve: the house is going to start work on their bill today, and it looks as if they could have something passed by wednesday or thursday. the senate is going to take up their bill coming up next week. what s interesting, every time the white house has okay, there s a problem in front of us. our solution? raise taxes. raise taxes. it s always about raising taxes. you re about to hear from a couple of republican senators who say not raising taxes per se, but we would be in for raising revenue by closing some deductions and things like that, provided it s done for the greater good of the country. here are senators graham and ayotte. we don t need to raise taxes to fund the government. we need to raise taxes to get our nation out of debt. we have $16.7 trillion in debt. we need to clean up our tax code to create jobs by flattening it out. not fixing sequestration with more money. if we re going to increase revenue again it s got to go to the debt with real entitlement reform and re