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Detailed text transcripts for TV channel - MSNBC - 20121205:19:10:00

what. what that does is eliminate all of the tax cuts and then there s a new fight in january to push obviously by the democrats to restore tax cuts for 98% of americans. and then that will be muddied by the need for a debt ceiling increase and the fight goes in to february. it s government at the brink all the time. we don t know how the markets and the credit rating agencies will react. probably be bad ybut i think that s what you hear conservatives saying. erin, so far wall street for the most part reacting in a calm fashion. we know that could go out the window. no one knows what could happen and how long it would take for us to fall in to a recession. but with that said, our first read team points out you have to know when to hold em, when to fold em. the song, i m a texan. he s a texan. did we see this coming all along to see a split dealing with the

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