Detailed text transcripts for TV channel - FOXNEWS - 20110512:20:35:00
Indication about the so-called debt trigger? in other words, if we're not meeting the numbers, i think the u.s. view is tax hikes go into effect, not so much spending cuts. >> it wasn't a specific negotiation, but we did talk about the need to put a cap on spending as opposed to a total debt cap, which the president i think it's more interested in having, which would involve additional taxes. you know, if we get increased tax revenue in this country because we're creating jobs in the private sector and growing the economy, that's one thing, but raising the tax rate to me is completely off the ...