Detailed text transcripts for TV channel - FOXNEWS - 20120815:02:36:00

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bad for the economy, although he has obviously now -- playing the old attack the rich class warfare card. but the fact is, we should sit down, we should come to a conclusion to avert both, baskly, the across-the-board cuts on defense, which would devastate our national security. but also the across-the--board cuts that would affect cancer research, national institute of health and others and enact serious reductions. i am not against reducing defense spenning in areas where it can be saved. but we have already enacted $480 million of reductions in defense spending already. and now, this would be another half a trillion dollars on top of it. and again, don't take my word for it, take the word of our uniformed chiefs and our secretary of defense who say it would devastate our defense. the first and foremost obligation of the president of

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