Detailed text transcripts for TV channel - FOXNEWS - 20120113:11:16:00
It's -- it's -- now it's $15 trillion and we need it to be $16 trillion. we don't need it to be. it's gonna be. >> it's gonna be. let's back track for a second and this was built into the debate over the summer in congress, agreed to this, correct? >> ok, look, this is almost automatic. the debt ceiling is going to be raised. we are going to get authority to raise, borrow an extra $1.2 trillion. now, just go forward a little bit. by election day, our outstanding debt in america is going to be well over $16 trillion. you know what it was when president obama was sworn in? $10.6 trillion. in oth...