Detailed text transcripts for TV channel - MSNBC - 20110802:18:07:00
Unable to get a successful conclusion, we go to sequestration for automatic cuts, but if you look at the automatic cuts, they are nowhere near devastating as the default on the debt would have been and it is balance between defense and domestic which will cause heartburn for democrats and republicans and something that we need to avoid, but neither side has an advantage in the negotiations. we hope that we will be able to come together. i hope it is for more than $1.2 trillion and i hope it is balanced and including revenue and if we do that, it is is going to be best for the country. >> and w...
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