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>> yeah, well and as you say in the context of $16.5 trillion in debt i think that is a pretty significant amount. the interesting thing is, i think this demonstrates, like so many other things in the state of the union that the president is first and foremost an ideological program. he has a philosophical world view, he's progressive, he's to the left and he believes in doing this. he's not the practicing ma advertise that i think a lot of people thought he was when he ran in 2008. and this is something he believes in very strongly. i think we are likely to see him continue to throw money at ...

From a $250 million stimulus grant champion end by president obama. among the lawmakers who oppose the new deal is republican senator charles grassley of iowa, ranking member of the senate judiciary committee. senator, always a pleasure to speak with you. as i understand the deal, the chinese company would not buy a123's government business, including military contracts, so how would the sale to this chinese company be a threat to national security? >> well, under those circumstances, if they are true, that would take that factor out of our concern about the sale. that's going to be up to an o...

Booth but what obama is seeding entire garden of cronyism. >> i asked the question, and the answer, we have to decide whether we want to participate in these new technologies, this new industry, and that's a political decision. we ought to invest in these technologies so they don't go overcast. >> there's a role for government and basic research, but another thing entirely to put $535 million into a solyndra or $249 million into an a123 systems. they're taking risks that private sector investors can take with their own money. they're risking my money on solyndra and a123. a123 systems had priv...

The failure of an electric car battery maker that got nearly $250 million in taxpayer-backed loans. two companies are fighting to buy a123 systems a a rock-bottom price and one of those companies is from china it turns out. stuart varney, anchor of "varney & company" on the fox business network of course. good morning, stewart. what is going on here? >> it is a bidding war. a123 systems makes car batteries for electric cars subsidized by the american taxpayer. it has gone bankrupt. there is bidding war for control of the company and its assets. in one corner, johnson control, that is american ...

Bring in stuart varney, anchor of "varney & company" on the fox business network. what did you make of that, stuart? >> i don't think the president had a strong answer why gas prices had doubled during his tenure from a 1.84, to 3.75 as of today. if you look across the whole spectrum of energy policy the president was on pretty shaky ground in all areas. no pipeline. doubling price of gas. he could not answer forcefully governor romney's charge there is less drilling for oil and gas on federal land and offshore. then yesterday morning, we had the failure of another green energy taxpayer subsid...