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Detailed text transcripts for TV channel - FOXNEWS - 20110719:08:05:00

But what i said to the group is if we can t do the biggest deal possible, then let s still be ambitious. let s still try to at least get a down payment on deficit reduction. reporter: but the cochair of the president s own deficit commission has not been impressed with what washington is considering. so many people are talking about doing it with just about $2 trillion of deficit reduction. that is not a solution. that is not going to fool our creditors. reporter: credit agency moody s suggested the u.s. remove the debt ceiling altogether to remove this uncertainty. considering all the heartburn over the nation s debt, that would appear to be unlikely. bret? bret: thank you. at a time when president obama and lawmakers of both parties are struggling to find spending cut of $20 the $4 trillion, one republican is offering his colleagues a menu of options for more ambitious savings. chief washington correspondent jim angle has the story. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110719:08:33:00

Contributions and future pledges. a comprehensive medicaid reform law passed with broad bipartisan support in illinois. it s partially blocked by the federal government. a group of illinois republicans say the centers for medicare and medicaid services cms recently decided to disallow a provision of the law that would require medicaid beneficiaries to show they had low incomes as well as proof of residency. they lived in the state. republican senator mark kick said the legislation would save the state $800 million in the next ten years. kirk and his colleagues asked c.m.s. to re-examine his decision. c.m.s. spokesman tells fox while some of the state initial proposal did not comply with federal law, c.m.s. worked hand in hand with the state to offer alternate solutions to address their concerns. finally, there is a growing online campaign to support current russian prime minister vladimir putin for president. again. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110719:08:27:00

But that is scheduled to go on tomorrow she will be there. along with rupert murdock and his son james. then finally, parliament called an emergency session for wednesday to address the phone hacking issues here. bret? bret: we ll continue to follow all parts of this story. amy, thank you. a group of internet hackers claims to have tampered with the website of rupert murdock s son newspaper. murdock is the chairman and parent of news corp. earlier today, visitor of the sun website was redirected to a page that had a story saying murdock s dead body was found in the garden but now they re redirected to lull s twitter feed. they called the attack successful part of murdock meltdown monday. no comment from the sun. a rare bipartisan moment when it come to government healthcare in grapevine. a group of vladimir putin supporters show how far they ll go to get their guy ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110719:08:46:00

Because they re so large. 25% of the government is massive as you can see. the trillions of dollars. they had $2 trillion according to some estimates on the table. in negotiations by the biden group with cantor and the lik like. bret: $2 trillion doesn t pay the interest in ten years so there is a sense even from the s&p 500 warning it s not just the debt ceiling but the bigger issue of the $14.3 trillion. it is. there has to be cuts. i think everybody agrees across lines there has to be substantial cuts and take on entitlement spending. how do you do it and negotiate and navigate to get us there in some successful way? the other part of this that you have to keep in mind that you have a sharp cut in government spending given the state of the economy, it could drag the recession down. juan is saying it s possible to cut the size of government by 20%. obama in two-and-a-half years increased it by over 20%. discretionary spending. it s way, way up. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110719:08:45:00

bret: the tax code is restretchtureed and close it down. the republicans haven t been opposed to that from the beginning. if there is a major change, they said they would close the loopholes. right from the perspective of the short-term production now it s difficult argument. they are willing to talk about it auz a separate discussion but they are focused on the cuts. i think tom coburn s message isn t a good one for most of the republicans right now who are very, very opposed to going anything against grover norquist americans for tax reform pledge. bret: you say it s too late to begin? maybe. bret: juan? it s difficult for republicans or democrats to look at the cuts seriously because they re so large. 25% of the government is massive as you can see. the trillions of dollars. they had $2 trillion according to some estimates on the table. in negotiations by the biden group with cantor and the lik ....

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