Detailed text transcripts for TV channel - FOXNEWS - 20120608:13:46:00
Economy is going over an january 1st. one is the spending cuts which i actually think will help the economy. you showed the debt clock. my gosh, we have $15.5 trillion national debt. we have it start bringing the deficit down. the other one is the tax rate increases. i think, gregg, those are the bigger problem for the economy because i don't think the economy can take the blow of higher capital gains, higher dividend, higher investment taxes next year. >> i think it is $55 billion in defense spending will be cut and rest of it, up to 109 billion. >> right. gregg: would be domestic programs, r...
Source: news source