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Detailed text transcripts for TV channel - FOXNEWS - 20110722:22:05:00

All spending cut and not enough revenue increases. of course, that has been the hold up all along. you see the president of the united states walking in the white house briefing room. good evening. i want to give you an update about the current situation about the debt ceiling. it just got a call about a half hour ago from speaker boehner. who indicated that he was going to be walking away from the negotiations that we have been engaged in here at the white house for a big deficit reduction and debt reduction package. and i thought it would be useful for me to just give you some insight in to where we were and why i think that we should have moved forward with a big deal. semily what we had offered speaker boehner was over $1 trillion in cuts to discretionary spending. both domestic, and defense. we then offered conditional ....

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Detailed text transcripts for TV channel - MSNBC - 20110712:09:02:00

Smaller $2 trillion to $2.5 trillion debt reduction package. the president said now is the time to pull offer the band-aid, now is the time to eat their peas, they ll be meeting again this afternoon. back at the table, have to see if anyone is picking up their fork. last night on hardball, congresswoman donna edwards, a democrat from maryland, talked to host chris matthews about the debt debate and about what she thinks about republican proposals to cut entitlement programs like medicare and social security. we can t have a conversation about seniors and those on disability and poor people having to sacrifice everything, but republicans don t want to ask the wealthiest 2%, the millionaires and billionaires to give up their tax cuts, which are causing the major part of our long-term debts and our deficit the. two wars in iraq and afghanistan, that if we were to draw down earlier for example in afghanistan, would deal with ....

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Detailed text transcripts for TV channel - MSNBC - 20110712:03:09:00

Boehner that s the only way they ll get a debt reduction package, the big target boehner set weeks ago, so it s boehner who is now giving up on the big package and saying maybe we should only try to get $2 trillion in deficit reduction. maybe the deficit crisis isn t so bad. now the harder president obama pushes for the $4 trillion package, the more boehner retreats from it. the president is finally capitalizing on a phenomenon that s been obvious from the start of his presidency, if he s in favor of something, the republicans are opposed. simple as that. here s the president embracing the republican s number, so now the republicans must be against their own number. this, this is a work of strategic brilliance by the president. the president s negotiating position, and it s only a negotiating position now is ....

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Detailed text transcripts for TV channel - MSNBC - 20110716:14:02:00

Should get tax breaks when they re getting tens of millions of profits. i don t think hedge fund managers should make more in bonuses than their secretaries salary. it was a crime of the president to submit and for congress to pass the only reason that congressional democrats would refuse to pass it because they know that the people of this country would rise up and quickly ratify it. there you see orrin hatch from utah, he s talking about a balanced budget amendment requiring the federal budget to be balanced each and every year starting in 2023. no chance of that passing. still taxes, richard, republicans refuse to raise revenues as part of this debt reduction package. the president says he s putting ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110716:22:03:00

Boehner has stole the president repeatedly that he does not have the votes in the house to pass a debt reduction package that includes tax hikes. house republicans are insisting that any increase in the debt ceiling is matched with equal or more spending cuts. rick? rick: molly henneberg, thank you. arthel: time is running out, we are now less than one week away from the first critical deadline. the u.s. could begin defaulting on its obligations by august 2. that is when the treasury department predicts we will hit our debt limit. but the real deadline is sooner than that. white house aides say a deal must be reached by july 22 in order for congress to draft and pass a bill in time to avoid defaulting. by the way, congress has raised the debt ceiling 102 times since it was first instituted in 1917 and ten times in the last decade. ....

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