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Detailed text transcripts for TV channel - MSNBC - 20110722:22:28:00

essentially what they agreed to give, is to get back to a baseline. it starts getting technical. but there were about $800 billion in revenue that were going to be available. and what we said was, when you ve got a racho of $4 in cuts for every $1 of revenue, that s pretty hard to stomach. and we think it is important to make sure that whatever additional revenue is in their covers, the amount of money taken out of the entitlement programs, that s only fair. if i m saying to future recipients of social security or medicare, that you re going to have to make some adjustments, it s important that we re also, willing to make adjustments when it comes to corporate jet owners or oil and gas producers or

Detailed text transcripts for TV channel - MSNBC - 20110722:22:28:00

essentially what they agreed to give, is to get back to a baseline. it starts getting technical. but there were about $800 billion in revenue that were going to be available. and what we said was, when you ve got a racho of $4 in cuts for every $1 of revenue, that s pretty hard to stomach. and we think it is important to make sure that whatever additional revenue is in their covers, the amount of money taken out of the entitlement programs, that s only fair. if i m saying to future recipients of social security or medicare, that you re going to have to make some adjustments, it s important that we re also, willing to make adjustments when it comes to corporate jet owners or oil and gas producers or people who are making millions

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