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Detailed text transcripts for TV channel - MSNBC - 20110721:21:18:00

Have to leave approximately half of our non-debt related bills unpaid. now, we believe that the debt, of course, will be paid. we don t think there s an issue of likely bond default. but many, many benefit checks and important payments won t be made because there simply won t be enough cash. behind closed doors, some prioritization is being done so there s a plan to know who gets paid and who doesn t get paid? that s achb issue. everyone assumes the administration will pick the winners and losers. they may decide they don t have the legal authority to do that and allow the bills to be paid in the order they re due and do it out of cash flow and not their decision. we don t know. in the doomsday situation, the u.s. credit would be downgraded. what does that mean? the rating agencies put a label on us. we are the best credits in the world. aaa. every other credit is inferior to ours. s&p, one of the three big rating ....

Bond Default , Benefit Checks , It Doesn T , Aarp Medicare Supplement , Behind Closed Doors , Won T , Achb Issue , Cash Flow , Rating Agencies , S P , Doomsday Situation ,

Detailed text transcripts for TV channel - MSNBC - 20110721:23:18:00

Means for americans is christian friedman an undersecretary of the treasury under the first president george bush. here to talk about what that means is krista and jay pal, former undersecretary of the treasury mr. president george w. bush. mr. secretary, i tend to be a knuckle head. so dumb it down for me. what are the steps tro transpire if they can t hit a cord. there will not be enough cash it pay the bills and they will have to leave approximate live half of our nondebt related bills unpaid. we believe the debt, of course, will be paid. we don t think there will be a bond default but many, many benefit payment checks and all kinds of payment won t be made because there won t be enough cash. behind closed doors right now, some prioritization is presumably being done so there is a plan to know who gets paid ....

Georgew Bush , Americans For Tax Reform , Ajay Pal , Knuckle Head , Tro Transpire , Won T , Behind Closed Doors , Bond Default , Benefit Payment Checks ,

Detailed text transcripts for TV channel - MSNBC - 20110721:21:18:00

Secretary of the treasury under president george w. bush. mr. secretary, i tend to be a knucklehead. dumb it down for me. what would be the steps you expect will transpire if they can t strike this accord? what will happen is, after august 2nd, the government will wake up on the morning of the 3rd and have nowhere near enough cash to pay the bills and will have to leave approximately half of our non-debt related bills unpaid. now, we believe that the debt, of course, will be paid. we don t think there s an issue of likely bond default. but many, many benefit checks and important payments won t be made because there simply won t be enough cash. behind closed doors, some prioritization is being done so there s a plan to know who gets paid and who doesn t get paid? that s achb issue. everyone assumes the administration will pick the winners and losers. they may decide they don t have the legal authority to do that and allow the bills to be paid in the order they re due and do ....

Georgew Bush , August 2nd , Bond Default , Aarp Medicare Supplement , Behind Closed Doors , Won T , Benefit Checks , It Doesn T , Achb Issue ,

Detailed text transcripts for TV channel - FOXNEWS - 20110721:15:20:00

To raise the debt limit, only 39% said, yes. 55% say that it s all exaggeration. does that pretty well square with the things you re hearing from the folks in iowa? well, i think so. i think iowans are less gullible, so that 39% number is probably a little less in iowa, but most of us are proud of our constituents and would make that comment. the more information that gets out there, the more people understand about the facts of this they understand the president can set the priorities absent statute that directs him. there really isn t out there except, perhaps, with social security to a small degree. so the longer we talk about this, the less public fear there is and the less leverage the president has to push for a high debt ceiling increase. that s really the bottom line, jon. and i think, and i d ask the speaker s waiting to do his press conference, he might contradict everything identify said, but i d ask him, let s bring a prioritization bill to the floor, let s pass anytime ....

Debt Limit , Jon Right Now Washington Is Playing Let S , Bottom Line , Social Security , Isnt Out There , Debt Ceiling Increase , Press Conference ,

Detailed text transcripts for TV channel - FOXNEWS - 20110719:01:08:00

And they have not a leg to stand on. sean: why are you they talking a fall-back position. once they pass that the shoe is on the other foot. it is like political jujitsu. and the now i don t see how he gets out. i think the president will capitulate, acquiesce. he has no choice in this. once you pass that bill that we are talking about, the conditional and the prioritization. if the president chooses not to send out social security checks and instead pays the postal employees that s his decision and he has to live with that politically if he said he s going to default and pay amtrak, has to make those decisions. he s not going to do that. he s going to cave in. the republicans should not be surrendering. they should not be following mcconnell s view. they are right to embrace cap, cut and balance and then prepare for war. in war you want conditional ....

Sean Hannity , Leg To Stand On , Mcconnell Reid Bill , Will Capitulate , Social Security Checks , House Republicans , Senator Mcconnell , Cave In ,