Detailed text transcripts for TV channel - FOXNEWS - 20110516:14:49:00
If we don't pass the debt ceiling on time, it may be we have to shut down certain functions of government, nonessential workers may not have a job for a few days or weeks before we get this resolved but there will be no default because the treasury will continue to use the tax revenues that come in to day the -- to pay the debt ceiling. alisyn: thank you very much for clarifying. that does help and thank you for explaining all of this to us today. >> have a great day, alisyn. alisyn: you too. let's go to jon scott to tell us what's happening on "happening now". jon: see you in about 11 minutes...