Detailed text transcripts for TV channel - MSNBC - 20110728:13:09:00
Trillion wasn't reached. $4 trillion will not be reached. we know that. it's also how significant the consequences of that would be. some, maybe not catastrophic. the danger for republicans at this moment is the one that mitch mcconnell outlined a few weeks ago when talking about the backup plan. >> owning this economy. >> they would get ownership of a default if we default, they may be acquiring ownership of a downgrade if that's what happens. >> here's what the head of s&p said on capitol hill yesterday. see if we can decipher this language. >> changing a rating doesn't mean it will default....
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