Detailed text transcripts for TV channel - FOXNEWS - 20120718:13:16:00
Drive the u.s. over a fiscal cliff. >> the fiscal decision should take into account the fragility of the recovery. that recovery could be endangered by the confluence of tax increases and spending reductions that will take effect early next year if no legislative action is taken. bill: that warning was stern. john thune, chairman of the republican conference. good morning to you, senator and welcome back. >> good morning. bill: i imagine what he said did not surprise you. what rang true? what was his bottom line warning? >> i think he said two things, bill. he said what will impact, first off ...