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Detailed text transcripts for TV channel - FOXNEWS - 20110809:01:47:00

We raised the debt limit dozens and dozens of times. force the first time we are going to have more spending cuts for the amount we raised the debt limit. i think republicans and democrats are running a little scared going into next year. i think america has woken up to this huge debt crisis we have looming over our heads. the tea party guys are activists in the country. sometimes people might not like everything they say. they are responsible for the clarion call. it is absurd. the fact of the matter this is the standard & poor s political downgrade in my opinion. i don t think the white house is happy. i don t think republicans are happy. i don t think anybody is happy with this downgrade. i think standard & poor s overreached on this given there s question about the numbers being shady. white house says there was two trillion they didn t look at many to call it a tea party downgrade i m not sure it works. ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110809:04:46:00

[ female announcer ] only flood insurance covers floods. for a free brochure, call the number on your screen. mark: tonight on our great great american panel. he s former deputy assistant secretary of state and co-host of five, bob beckel is here. might be easier just to announce the guests who aren t co-hosts of the five. sophia nelson isn t. political commentator. national columnist and author of a new book, black woman redefineed. great to have you. white house political director under president job matt schlapp joins us. the tea party downgrade. that s what john kerry calls it. that s what howard dean calls it. they ve got that phrase nailed down. is it going to stick matt? not at all. it is absurd. we raised the debt limit ....

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