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Detailed text transcripts for TV channel - FOXNEWS - 20111122:00:31:00

shot. veterans of capitol hill, shep, say the failure of the super committee jeopardizing lawmakers ability to knock out their usual end of year items. congress still needs to approve, for example, 10 of 13 annual spending bills. there is that yuletide favorite the doc fix which shields medicare physicians huge cuts from he fees. annual patching of the alternative minimum tax to spare the middle class from a stiff tax hike. you will probably likely see some expiring tax provisions be renewed if they have to be. no one wants to raise taxes on anyone in this economy but on big spending bills, such as an omni bud it s going to be harder and harder for congress to get something like that done because they weren t able to get the super committee deal done. and then there were the tax extenders. lawmakers will try to extend tax breaks that expire at year s end including payroll tax cut included in the stimulus package, shep. shepard: why should anybody expect, james, for this to be sol

Detailed text transcripts for TV channel - FOXNEWS - 20111122:00:51:00

there is new fallout from the botched gun tracking operation known as fast and fewer yus. investigators say the fed lost track of hundreds of weapons they were supposed to be following back in mexico. police say they found some of those same guns at the crime scenes on both sides of the border. including at the murder scene of a u.s. border patrol agent brian tawr terry. dozens of republicans in congress with demanding the attorney general eric holder resign. he recently told a senate committee he would not take action on fast and furious unless and until a federal office completes its investigation which we re told could be months away. william la jeunesse is live this afternoon in los angeles. william? well, shep, the republicans began to investigate fast and furious in february when it was obvious the problem wasn t going away, attorney general holder asked its department s inspector general to investigate. essentially two investigations. one by house republicans. the other by c

Detailed text transcripts for TV channel - FOXNEWS - 20111122:00:04:00

well, senate co-chair of the super committee patty murray, the democratic co-chair says essentially they are going to have to figure out if they can live with those automatic cuts that were intended to be brutal. we have heard concerns from the pentagon, for example, about the defense cuts and hollowing out the united states military. minutes ago senator murray seemed to answer questions whether washington is broken regarding this failure take a listen. because this committee didn t reach an agreement by tonight doesn t mean that democracy doesn t work. it means we have to work harder to make a democracy work. at this hour there is also start of a bipartisan push to get the president to embrace his own deficit commissn. the simpson bowls commission named for allen simpson and irskin bottles who called for $4 trillion in deficit cuts. a lot of lawmakers are saying failure is not an option for the country, shep. plenty of indications that failure might even have been

Detailed text transcripts for TV channel - FOXNEWS - 20111122:00:06:00

over those cuts or whether they should do something else. shep? shepard: battle or at least the looks thereof. mike, thank you. more ahead on the super committee s failure including why the fallout could be a lot bigger than most anybody realized. that s coming up just minutes from now inside fox report. first though, we re learning more about the man cops say wanted to blow up police stations and post offices. the mother of jose pimentel praising the new york police department for busing her son. police say pimentel was al qaeda sim paer. a man building pipe bombs in his mother s home in new york. the bust happened right before he had worked on a bomb. an hour before it would be working. officials released this surveillance photo and say it shows him right in the acts. the district attorney describes pimentel as a lone wolf who was planning he says to bomb attacks in new york city and new jersey. pimentel s mother telling reporters her son changed after converting to islam.

Detailed text transcripts for TV channel - FOXNEWS - 20111122:00:30:00

apparently hurt. paramedics took him to a hospital. i m shepard smith. this is the fox report. it s the bottom of the hour. time for the top of the news. so the super committee was a bust and president obama is blaming republicans. he says they re protesting the richest americans or protecting them, i should say, from the tax cost at any cuts. republicans say democrats refuse to compromise. and so the game blame game begins. this after the bipartisan congressional panel failed to agree how to cut our federal deficit. as we have been reporting this means a series of automatic cuts are supposed to kick in unless, of course, lawmakers can invent some sort of way around that. the fallout of all of this failure goes way beyond. james rosen is in washington tonight. james, the super committee has failed if it was ever designed to succeed. but now the job of congress is tougher. and it s not done by long

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