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Detailed text transcripts for TV channel - FOXNEWS - 20110729:15:30:00

Our gdp. that hasn t happened before. that s exactly right. and, look, some people would say, i think legitimately, that the fact that the debt limit increases were so routine is how we ended up at $14.5 trillion of national debt. so if nothing else, there is one silver lining to this mess which is that i think everybody is now totally focused on this debt and how we can reduce it, how we can get it under control. that s a positive. let s also hope that we don t have all these negative repercussions from default. i think that will have major political consequences, it will defeat a lot of congressmen if it happens. i m the last optimist. i think they ll still work it out. jon: well, doug mccelway is on capitol hill and just telling us that he, at least speaker boehner was asked if we have a deal, and the speaker answered, i m smiling. now, that could be smoke and mirrors, but it could be a good ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110729:15:30:00

Say, i think legitimately, that the fact that the debt limit increases were so routine is how we ended up at $14.5 trillion of national debt. so if nothing else, there is one silver lining to this mess which is that i think everybody is now totally focused on this debt and how we can reduce it, how we can get it under control. that s a positive. let s also hope that we don t have all these negative repercussions from default. i think that will have major political consequences, it will defeat a lot of congressmen if it happens. i m the last optimist. i think they ll still work it out. jon: well, doug mccelway is on capitol hill and just telling us that he, at least speaker boehner was asked if we have a deal, and the speaker answered, i m smiling. now, that could be smoke and mirrors, but it could be a good sign. we ll read the tea lees with you tea leaves with you. could be. i think that yes, thanks a ....

Silver Lining , Debt Limit Increases , 14 5 Trillion , 4 5 Trillion , Isnt It , Jon Scott , Capitol Hill , Doug Mccelway , Speaker Boehner , Thanksa Lot , Tea Leaves , Tea Lees ,