Detailed text transcripts for TV channel - FOXNEWS - 20110726:00:45:00 : vimarsana.com

Detailed text transcripts for TV channel - FOXNEWS - 20110726:00:45:00

country. timothy geithner the treasury secretary said a default is unthinkable. chuck schumer as recently as this afternoon, i believe, said that a default would be catastrophic. it would be catastrophic, by the way. but here's what they don't tell you. there is zero chance. and i mean zero chance that we have a default. no chance at all. a default is when you don't pay your lenders, the bond holders. there is more than enough money coming in each month in taxes to pay off the bond holders. so there will be no default. i understand why the president and the secretary of the treasury and chuck schumer all liberal democrats, i understand why they do this. to scare people and try to get a better deal out of republicans. i get it. it's called politics. but when journalists, especially anchors. this is really disturbing. on broadcast networks on cable

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