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Detailed text transcripts for TV channel - FOXNEWS - 20110802:04:49:00

It s that serious. can i point out what i think i guess the worst part of this bill? i think defense cuts are terrible in the bill. the worst part is it allows people in congress to pretend like they re doing something for the next six months, because the next six months are dominated by this commission, looking for $1.6 trillion in 10 years. that s pittance. there s good recommendations. let s remember something, on a serious note here, the bowles-simpson commission was initially supposed to automatically go to congress, but they had to do an up-and-down vote. obama rejected it. no, it got beaten back in the senate. it ended up being a commission. this is a select committee like watergate. sãuvç bob, why was it also jua commission? the president never even brought it you re right, it should have been, but this committee that they formed, a select committee, like watergate was, for example, and they have to report out, it has to be a vote within a certain number of days, ....

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Detailed text transcripts for TV channel - MSNBC - 20110802:00:20:00

The committee to reach an agreement. and the white house seems to believe that the scheduled expiration of the bush tax rates on december 31, 2012, is yet another incentive for republicans to reach a reasonable agreement on deficit reduction. if it fails, either to produce something or if congress fails to act on it, you can be sure that the president will honor his promise to veto any legislation that would extend the bush high income tax cuts beyond 2012, which would, of course, create nearly $1 trillion in revenue raisers when that happens. okay, that makes absolutely no sense. let me try to walk you through this. i hope i don t get myself tangled up in it. what the white house and the media so far seem to not understand about that is the president will never, ever have a chance to veto legislation that would extend only the bush ....

Tea Party Republicans , Deficit Reduction , White House , Bush Tax Rates , December 31 2012 , Blame It On Aging , George Bush , Income Tax Cuts , Revenue Raisers , 1 Trillion ,

Detailed text transcripts for TV channel - FOXNEWS - 20110802:04:33:00

Thnext year. th was weird. but awesome ! nationwide is on your side just don t feel like they used to. are you one of them? remember when you had more energy for 18 holes with your buddies. more passion for the one ya love. more fun with your family and friends. it could be a treatable condition called low testosterone or low t. come on, stop living in the shadows. you ve got a life to live. [ male announcer ] so don t blame it on aging. talk to your doctor and go to isitlowt.com to find out more. vrrooom.vrrroooomm vroom vrrooom vrrroooomm ....

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Detailed text transcripts for TV channel - MSNBC - 20110802:00:06:00

Congressman, barney frank of massachusetts, the ranking member of the house committee. thanks for joining me tonight, congressman. you re welcome. a very difficult day in the house of representatives. i ve never seen a messier piece of legislation be brought to a vote there. tell us how you voted and why. well, i voted no. but let me say prim theirly, the republicans came to power promising all these procedural changes, openness, etc., there s not now a single republican procedural promise left unbroken. the way they have acted the last few weeks has been as high-handed, arbitrary, and non-democrat as we can see. i wanted to vote yes. i think a default puts a lot of pain on the people least able to deal with it, and i don t want to see the tea party succeed in its campaign to degrade our capacity to work together, which we call government. and so i was earlier this ....

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Detailed text transcripts for TV channel - MSNBC - 20110802:00:29:00

But anti-tax republicans on it is for the president to say okay, if it comes to it, i am prepared to allow all, all tax rates to go up. because that s the only position he can take that would be in any way threatening to where the republicans are playing the tax game now. and his republican opponents in the presidential race would probably love him to say that, then they ll beat him up for raising taxes on the middle class. lawrence, i think what this deal does is set up a massive showdown for the lame duck session after the president in fact, in january 2013, not 2012, so here we are, we re in november/december 2012, bush tax cuts expire at the end of the year, these huge across the board cuts are scheduled to kick in on january, and the debt ceiling, we hit it again in january 2013. huge showdown, that s probably ....

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