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Detailed text transcripts for TV channel - FOXNEWS - 20110117:15:32:00

there, too. i mentioned the flight landed two hours ago and they have been dealing with this for a while. martha: you think of electronic equipment and blackberries and the kinds of noises they make when alarms go off and something has been set, a lot of things can be potential plan nations for a strange sound coming from the cargo hold but they are taking every precaution and no passengers need to be concerned, they were all let off the plane and, it was most likely discovered when they started to figure out how to unload it. bill: it looks like the gate away was pulled off and they literally walked off the plane and not like the automatic chutes came out and they went for a slide. nothing has been deployed. whatever they are looking at underneath the jet engine, right there, hopefully they can get answers soon and some sort of sound, what is it? we don't know, the mystery continues on american airlines flight 390, in miami. martha: we'll keep an eye on that, in "america's newsroom" china's president arrives in washington tomorrow. this will be a big newsmaker

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:18:00

but it may come up depending hope to outcome of the vote. if you were to get 15-plus democrats, which i don't think -- doesn't sound like a lot of people, and all the republicans, maybe, then you start to throw some momentum that way. otherwise you come up short, don't you? >> there is another look at this, too, and i believe the number is 23 democrats that are up for re-election in the senate in 2012. i already know that some of them have lost their conviction and don't want to have to vote on a repeal bill. so if there can be a forced vote in the senate those who are concerned about re-election that are democrats i think the votes will be there to repeal it in the senate. i'm one of a few that predicted it and karl rove would be another and the pressure needs to be there and still, the house can shut off funding so that obamacare is not implemented or enforced, all the way through 2011 and 2012 and, january 20th of 2013 we'll have, i believe, a new president, who runs on the agenda, of signing the repeal, i hope he does it right at the podium when he swears in. bill: in the near term you are on record. we'll see what happens, is

The-hard-way , Lot , People , Republicans , Vote , Democrats , Hope , Momentum , Sound , Outcome , Doesn-t , Dont-think

Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:47:00

in five years or eight years but we have to get this debt down. bill: what you're arguing as an economic guy is go ahead and raise the tkoebt sealing but put some stop gap measures in there, cut the spending, show us a blueprint down the road where you don't have to increase the debt the next time it inspires. >> reporter: you've said it very well. that is exactly what i'm trying to say. the president is meeting with the leaders of china let's not forget, folks the country that owns most of our debt is china. china owns nearly a trillions dollar of our debt. bill: with his four-day trip coming to the u.s. this week it will get a lot of attention. hrafr resummers usealready resun the white house, he's moved on from there.

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:45:00

14 to 15 trillion. i think the governor is completely correct if you've got out of control spending and debt you don't just increase the federal credit card limit. you've got to get something in return for that, some path to a balanced budget. bill: what he said was put the interest and debt payments ahead of other federal spending. does that mean you pay china first. >> reporter: it means we honor our debt obligations first. i agree with that. if it comes to the point, bill where there is a standoff between the president and the congress, where the congress says we will only agree to a debt increase if we get spending under control and spending reductions and the president says i'm not going to go for that, you do have a mexican standoff. the question is how do you pay your bills if you can't issue new debt. revenues come in, you can spend the money that comes in you just can't borrow any more. what the governor is saying in that case let's at least make sure we are not defaulting on our debts. remember, by the way, that i

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:15:33:00

this week. the u.s. trade deficit with china will no doubt be a huge topic between these two leaders, the u.s. and europe have long accused china of unfair trade practices, james rosen is live in washington with the latest. we know that the chinese president, james, basically said, you know, the u.s. currency is sort of think of the past? >> reporter: the fact is, martha, these two economies are so closely bound together despite the economic complaint each nation harbors about the other, neither can afford to go to the mat over them and the 8th bilateral meeting between president obama and chinese president hu jintao, follows a rough year in u.s.-sino relations and also, modest progress in the joint commission on commerce and trade talk and, the yuan gained 3% over the dollar over the last three months but the economic issues remain on the table. first is the currency issue with the u.s. demanding china strengthen the yuan and there by encourage greater competitiveness and the u.s.

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:46:00

think governor palenty was correct when he said that the president is being a little bit hypocritical here because as you reported on fox last week the president himself when he was senator voted against the debt sealing increase. bill: that was back in 2006. what the white house would argue is it is suicide not to raise the debt limit. are they right? >> reporter: there is going to be an increase in the debt sealing. we can't default on our debts, we can't not make our payments we have to make. the real question, the showdown is going to be when we increase that debt sealing whether it comes in march or april or may is there going to be some kind of new fiscal controls put in place or are we going to write a blank check for congress. what i'm saying and i think governor palenty is saying, we will increase the debt sealing but that has to be ton with a clear, visible measure to get to a balanced budget whether it'

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:40:00

they don't just throw salt all over the sidewalks there. bill: it hasn't got even above freezing. when that happens and you don't have the equipment. martha: i hope they get out of that, it's a great weekend and a great area. do we stick with the dollar or the yuan, the kraoeupb he's currency. this clash over the current see on the eve of the chinese president's visit. why does it matter. bill: governors warnings about pushing the debt towards some cities. the taste for tough medicine that seems to be catching on with some folks, listen. >> i'd be willing to stand up to a culture, to a history, to a pattern in this case, 21% spending in my state for 40 years and say we're not doing that any more and i'm glad we had that showdown in minnesota.

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:34:00

friendly seating plan at next week's state of the union address. senators chuck schumer and senator tom coburn are going to sit next to each other. the regular seating plan is republicans on one side, democrats on the other. they say they are going to be together when the president takes to the house floor. listen to this. >> that's symbolic, make it sets a tone and everything gets a little bit more civil. we believe in discourse in america, we believe in strenuous sis course. we don't sweep differences under the rug. tom and i have real differences. we can do it civilly. we disagree on a whole lot of stuff, he's always been a gentleman and civil. that's what people should follow. >> we've had problems in the senate, that's been small, that always comes back when people are questioning motives. i think the people in the senate love this country. we have vast differences in how we believe what will be the best

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:15:00:00

hour of "america's newsroom," welcome, i'm martha maccallum. bill: i'm bill hemmer. good morning, will be a lot of debate over this one. president hu saying the day of the dollar is done, outlining plans to make china's currency a global standard. martha: that's right, the two heads of state set for a bit of a show down over what could be a very difficult discussion. happening at the white house this week, mike emmanuel joins us live at the white house and the dollar, of course is one of a wide range of issues. the president and mr. hu will have to discuss? >> martha, no question about that. the chinese leader comes to washington, clearly feeling powerful in a variety of fronts, military, diplomatic, also the economy as well, the global economy and, finance around the world. and secretary of state hillary clinton give us a preview of the visit. >> today, our relationship has gone global. we debate and discuss nearly every major international issue. in both bilateral dialogues and

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Detailed text transcripts for TV channel - FOXNEWS - 20110117:14:39:00

bill: former new york mayor rudy giuliani hinting of a possible white house run in 2012. >> let me ask you quickly, are you thinking about maybe running for president again? >> not this morning. i have thought about it in we cent week. bill: i think that's what that answer said. he sought the republican nomination in 2008 but failed to gain trackses with voters at the primary and eventually lost. martha: interesting. he went after chris christie for going to disney world during the snowstorm. that was -- bill: you were in atlanta over the weekend. martha: i was. bill: and that town. martha: i tho they are still trying to get out there under it. bill: they are buried in. martha: sidewalks are still icy. they don't have enough salt.

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