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Detailed text transcripts for TV channel - FOXNEWS - 20130206:17:06:00

That could involve cutting key receives and even higher taxes so it s a real dilemma, jenna. jenna: it s quite a reality to face. we talk about debt and deficit a lot. according to the cbo report our debt is growing, the deficit has come down. what can you tell us about the discrepancy there? right. well the federal budget deficit is about half of what it was in 2009, this is the yearly federal expenditures, right stp-t budget battle in washington continues to be a philosophical debate on spending cuts versus taxes, and what the right battle should be to fix our fiscal mess. do we swallow the bitter pill now for cuts and higher taxes to purchase growth in the future or do we reign in taxes. they need to know what to do about 85 billion in spinning cuts. republicans, no surprise said spending cuts only, that s been ....

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