Page 3 - 655 Billion News Today

>> the president says he plans to pay down the countrys debt with savings from his health care bill. but the nonpartisan congressional budget office, the c.b.o., says that the government has already run up a budget deficit of $655 billion. thats about $65 billion more than last year, steve. >> thats right, gretch. stuart varney is the host of "varney & company" on the fox business network. he has a show coming up shortly but hes joining nonetheless. we knew the budget deficit would be big. its s...

Between october and the end of february, as gretchen says, we ran up a deficit of $655 billion. how do you wrap your arms around that? >> cant. >> you cant even imagine how much money that is. lets suppose something bad happens. i dont know. an earthquake, a terrorist attack or a plague of some sort. some unexpected emergency comes down the pike at you. what do we do? you got to spend money to fix it. >> sure. >> what do you do? >> borrow more. go back to china! >> then people will say -- you ca...

When you talk about the weather, thats really key here. there is a lot of bad weather, a lot of snowy weather in the northeast, particularly in that -- a lot of economists said could have kept a lot of people from looking for work. when we talk about the big unemployment figure that stood at 9.7%, the expectation was for that to rise to 9.8%. the markets have been in the wait and see mode to get something out of this. this is a little bit better than expected at this point. >> gretchen: lets tal...

Reporting suggests that he has asked privately aides and advisers about how he should respond. hes been told by them that this does not rise to the level of a presidential response. that to say anything would just add fuel to the fire. he withstood the fallout from the "access hollywood" tape that you well know came out right before the election and since he doesnt have another election facing him for another couple of years, he should just ride this one out. of course the other big question tod...

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I agreed, he has treated this commission like a washington gimmick like he said he wouldnt do. i say, okay there are controversial parts of bill, but, face it, we had 11 commissioners, six democrats, and five republicans vote for it, so why not take the thing they agreed on, take the discretionary spending cuts we concern act immediately, and put those interest law. so, i introduced legislation today to do that. that would save $655 billion over 10 years, it is not enough, but it is a good first...