Unemployment Rising

" Megyn Kelly I don't Monday welcome here -- the vice president says that the White House quote miss red how bad the economy was and now. There is new and growing pressure to fix the problem. But check this out the country's debt. Already stands at a staggering eleven point four trillion dollars. Equivalent to about 37000 dollars in debt for every single taxpayer 37000. Just on top of what you think you out. And that number right now is growing at a rate of a trillion dollars a year."

" Stuart -- of the Fox Business Network has been warning about this for many many months saying joins us now live Stewart. It is an eleven point four trillion it's going to double according to -- under the president's budget and spending and of course the deficit will triple. Would you regard that -- that -- As the single biggest -- To our economy yes let's distinguish between two things there is the accumulated national debt now did that and a half trillion dollars. And that costs us half a trillion dollars every -- in interest. Then there is the annual deficit. Now running close to two trillion dollars this year and growing. -- right Greg the intellectual and policy groundwork for a second stimulus plan is being late. Consider this from the New York Times very closely followed by many Democrats the times says. There is a compelling case for more government stimulus and Paul Krugman he says get walking on additional stimulus now okay why. Because stimulus Juan. Clearly isn't looking it's not creating new jobs the jobless right is going up is headed right to 10%. Those shovel ready projects which we -- about four months ago there's simply not that then not ready so we've got a stimulus wanna not looking. Stimulus plan to being talked about that this huge problem all of the deficit. The annual interest that we -- on the national debt -- voters don't like it was story. Helping out here. We have we haven't even spent 90%. Of the first stimulus and -- scant. 500. Million yet he's only going to infrastructure was it half a billion dollar which is just. Fraction yes of the original stimulus checks show isn't it premature to be talking about a second stimulus -- only spent 10% of the first one okay now you look out over the next two or three years when the full stimulus will be spent. Only one dollar in full law goes to actual job creating stimulus plans that can make only 24% of the seven of an 87 billion dollars actually goes -- what you might call job creation. And all of that one dollar in -- I don't think. Let's get to more dollars 129 billion dollars goes towards highway project that's it. So what you stretch stimulus want out of its full lifetime is still not gonna -- Out all the jobs created. Not saying it created. That were promised just four months ago. That's why that's all let's talk about stimulus to."

" Well there's only two is that a debt one is to print more money hyper inflationary and the other is to raise taxes which deters economic growth it prolongs. The recessionary conditions what will happen when you could always do both correct. That's if that's double bad -- are right Stuart Varney as always Steve thanks good."

" Well despite the powerful personal stories of average Americans threatened with losing their life savings a federal bankruptcy judge. Has sided with the White House and the auto unions in the GM bankruptcy. GM getting the green light to sell the bulk of it sets it up its assets to a new company. That will be mostly -- by the US government. And the United Auto Workers. The judge made his ruling over the objections of more than 800 different parties who argued that the deal was brutally unfair to creditors dealers. And even to some car owners. But the judge said the only other alternative was liquidation which he said would have been far worse for everyone. The sale of GM assets expected to start today."