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>> the president says he plans to pay down the country's 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. that's about $65 billion more than last year, steve. >> that's right, gretch. stuart varney is the host of "varney & company" on the fox business network. he has a show coming up shortly but he's joining nonetheless. we knew the budget deficit would be big. it's so big, people are wondering, ok, they're doing all these things with the money. where's the rai...

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? >> can't. >> you can't even imagine how much money that is. let's suppose something bad happens. i don't 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 can't borrow anymore. people won't lend you anymore. >> let me ask you this -- is part of this bei...

When you talk about the weather, that's 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: let's talk about something else and that records the cbo. they estimate the federal government incurred a b...

Reporting suggests that he has asked privately aides and advisers about how he should respond. he's 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 doesn't have another election facing him for another couple of years, he should just ride this one out. of course the other big question today was the border wall. >> right. >> reporter: last week the president expressed his frustration a...

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