Detailed text transcripts for TV channel - FOXNEWS - 2011071

Detailed text transcripts for TV channel - FOXNEWS - 20110719:08:04:00

government is simply too great to lead to the kind of long-term reforms we need. >> reporter: reid says lawmakers must find a solution. >> we'll stay in session every day, saturday and sunday until congress passes legislation to prevent the united states from defaulting on negotiation. >> reporter: in chicago, key ally expressed support for the mcconnell-reid plan. >> more work to be done. joint committee can tackle it but it's responsible way out of the crisis. >> reporter: lindsey graham favors constitutional amendment but there isn't enough support in the senate. >> we have the people behind us. 72% of the american people want balanced budget. >> reporter: the president called for shared sacrifice. >> i am still pushing for to us achieve a big deal. but what i said to the group is if we can't do the biggest deal possible, then let's still be ambitious. let's still try to at least get a down payment on deficit

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