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Detailed text transcripts for TV channel - FOXNEWS - 20121229:05:03:00

taxes that will fund a mere 8 and a half days of government. frankly nothing but a pathetic disgrace. you the american people deserve a government that lives within its means. you deserve a government that is not obsessed with using your money to accumulate their power. it is time for americans to understand the simple truth of what is going on here. a truth by the way that an abusively biased news media just ignores. joining us now with reaction as america is on the brink republican senators pat toomey and ron johnson. senators, welcome back. hi, sean. hi, sean. sean: let s start with the meeting today. senator toomey, i m told that the president wassed adamant n the meeting and didn t come off, are the original request was to keep tax rates at the same for the middle class but everybody above $250,000 going up. is that what you heard? i haven t heard about

Detailed text transcripts for TV channel - FOXNEWS - 20121229:05:10:00

ceiling increase from last august in 17 months. that is an astonishing fact. once we get this tax issue behind us and hopefully in the next couple of days, then we need to start asking the president what s your plan, senator harry reid are you going pass a budget. i really do believe that the president and the democrats really have no intention and as a result have no plan to limit the rate of growth in government and no plan to save social security and medicare and we need to start putting political pressure on them to show the american people a plan. the house passed two budgets since i have been here. they both include some proposal to save medicare. the democrats have not done that and this is really where we start turning the messaging on them and start demanding. i think the american people have a right to know, president obama are you going so solve the 92% or 93% of the deficit. what is it that you talked about on the campaign trail?

Detailed text transcripts for TV channel - FOXNEWS - 20121229:05:08:00

is a little frustrating as we watch this frankly reckless positioning going on. this really doesn t deal with the problem and this is really important i think for the american people to know as i said in my opening commentary. this will fund the government if he gets the increase in taxes on the so-called wealthy and small business that funds the government for eight and a half days. america has $16 trillion in debt and we are out of money again. why isn t the president why are we really discussing the spending issues would seem to mattery lot more? the reason is because unfortunately we have got a law that goes into effect on january that raises taxes and we have got to try to prevent as much of that as we can. look, you are absolutely right. if the president got the full tax increase he campaigned for that would solve 8% of the deficits projected for the next ten years and the president refuses to so much as offer an idea about what he is going to do about the other 92%.

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