Detailed text transcripts for TV channel - FOXNEWS - 20110802:02:03:00
That, i read that many cuts are back-ended, meaning they'll occur after the year 2014. nothing will happen this year, the year after, but 2014 is it when really matters. >> that's not true. there's immediate cuts. it's modeled after the cut, cap and balance approach. there's a balanced budget amendment vote will occur sometime this fall, something we've been fighting for a long time. there will be some immediate cuts made on the order of about $917 billion. those are -- that's spending that will be capped. >> greta: who gets that first $900 billion in cuts? >> it's going to come out of a lot o...
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