ainsley: a fox news alert. house minority leader kevin mccarthy capping off a record-breaking speech. it was about 8 hours. single-handedly delaying the vote on biden s massive trillion dollars spending bill, this social spending bill. the house will reconvene in just a few hours from now to try it again. and it comes as a congressional budget office reports that the plan will rack up billions in deficit spending. here to react is host of varney and company and american built on fox business stuart varney. good morning, stuart. good morning, ainsley. ainsley: you were the expert on this. how much is this going to cost our country? okay. they say it s going to add $367 billion to the deficit. nonsense. this is financial slight of hand. there is a great deal of trickery involved in build back better. let me try to explain to you. take for example, the child care allowance, cost $130 billion a year that is scheduled to expire after one year. so it s costed at 130 billion.
marathon speech forcing pelosi to push the boat 8:00 am eastern time today at the earliest. it comes as the congressional budget office estimates the package will add $367 billion to our federal deficit was a far cry from the president s promise that it would be fully paid for. norm blanchard has breaking news. reporter: minority leader kevin mccarthy was able to delay a house vote with a marathon speech, now almost eight hours later he is still going after democrats with the floor and called it a night. mister speaker, i don t know if they think they left i m going to stop. i m not. it is too important. because mister speaker, i am not
$367 billion in the deficit over a decade according to the summary, a net increase of the deficit. that s right, that s right. but that doesn t include they re not counting any additional revenue that may be generated for tax. right. and the white house says they re going get more than the cbo believes they re going get. that s where the discrepancy comes in. so the white house can go out there and say this is paid for, which is what the moderates want to be able to go home and tell their constituents, this is paid for. gloria, we re going to need you. if you can do what my mom does, you can lay on the pillow, don t mess up your makeup and your hair, because we may have to come back to you. you got a lot to talk about tonight, don. i know. gloria, thank you for helping us out. we re going keep an eye. thanks a lot, don. we ll see you soon. we re keeping an eye on that vote tonight. it comes as america is at a moment of truth on justice. the country is on edge over b
all of us, will pay our fair share. to support our democracy. but the bill is not paid for. cbo says the bill keeps an additional $367 billion on the deficit. democrats say that is offset by $200 billion in revenue for beefed up irs enforcement. the g.o.p. notes democrats passed $1.9 trillion in covid eight on their own in late winter. never in american history has so much been spent at one time. never in american history will so many taxes be raised and so much borrowing be needed to pay for all this reckless spending. every page of all this new washington spending will be paid for or borrowed from you. the american, hardworking taxpayer. as we say, it is about the math.
this bill reduces the deficit. it also ensures that all of us will pay our fair share to support our democracy. that the bill is not paid for, heaps an additional $367 billion on the deficit, democrats say that is offset by $200 billion in revenue for beefed-up irs enforcement, the gop notes they passed $1 trillion of covidien on their own in late winter. never in american history has so much spent at one time. never in american history bill so many taxes be raised and so much of borrowing needed to pay for all this reckless spending. every page of all this new washington spending will be paid