Detailed text transcripts for TV channel - FOXNEWS - 20131009:17:07:00
Debt ceiling will we automatically default? the president said yes. that is not necessarily true. default is about not paying the bond holders and the people who bought the debt. we have plenty of money coming in from tax revenue. every month the u.s. treasury gets 250 billion in tax revenue. and every month, the u.s. puts out 35 billion to the people who own our debt. we have plenty of money left over to pay all of the rest of our bills. >> right, but to put it in simple household terms. sort of like getting your credit card bill and only paying interest and not the balance and if so, how lon...
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