Detailed text transcripts for TV channel - MSNBC - 20110712:17:03:00
Failure to raise the debt ceiling would have. are you saying that you acknowledge if the debt ceiling isn't raised there would be terrible economic consequences immediately? >> the consequences i believe largely depend upon how the administration approaches that situation. they're going to have some decisions to make about how they prioritize and spend those dollars. i've signed on to legislation in the house that would direct the administration in some of that prioritization so we would ensure that our military got paid and our seniors got their social security checks. >> fair enough. i think...
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