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Detailed text transcripts for TV channel - FOXNEWS - 20110803:16:34:00

Cuts go to 12-member bipartisan commission. it must find $1.5 trillion in savings by november. if it fails in congress the debt deal forces $1.2 trillion cuts in domestic and military spending. ratingses agencies responsible for granting the federal government its top-notch aaa rating want to see congress go further than this debt deal. moody s says the attempt is untested. fitch says the agreement is an important first step but the no the end of the process. towards putting in place a credible plan to reduce the budget deficit to a level that would secure the united states aaa status over the medium term. both have confirmed the u.s. aaa rating for now. moody s downgraded the u.s. out look. it is a warning basically that the government still needs to reduce its deficits further. democratic and republican leaders are deciding which lawmakers six from each party will serve on the ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110803:16:03:00

Everything i can to make sure our economy is growing, creating jobs and strengthening our middle class. reporter: you ve heard that refrain again and again, meanwhile unemployment still well over 9%. th-s ao why i think you re going to hear, as you heard the president yesterday, jay carney s briefing may start in a couple of minutes. i think we got a two-minute warning. they talk about when congress comes back from its august break they want to see patent reform, infrastructure projects. the government doesn t have a lot of money in the kitty and there is not going to be a ton of cash to have another big stimulus plan and that is very worrisome for the president as he heads off to chicago to kickoff this campaign. jenna: as you mentioned the press briefing will start any moment. now i m sure you have a few good questions there for jay carney. our viewers can watch you in action at foxnews.com. we will be streaming that press briefing. no pressure. reporter: you just put a ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110803:16:36:00

Negotiations you re describing could lead to further reductions for hospitals and doctors and other care-givers, or we ll get a sequester n a sequester, hospitals would be particularly hit as well as other who is receive and provide service and provide services for medicare beneficiaries for seniors. jon: you re talking what if congress can t come up with what, $1.2 trillion budget cuts? right. jon: automatically billions get cut from medicare, right? right. what was misunderstood by some of the policymakers in this process who talked about avoiding hits to seniors these kinds of arbitrary, across-the-board cuts that affect hospitals and will affect doctors and others who provide care to seniors, the care seniors depend on, it will affect our ability to maintain the technology and the services that people expect and deserve from medicare. jon: okay, but you just said ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110803:15:33:00

A lot to do with the economy. as far as the fiscal fights or money battles, if you will, ahead for this congress, what s on the stor horizon. reporter: the new fiscal year 2012 starts october 1st. what the congress has done recently is continuing resolutions, continuing on with the spending that s been going on because they haven t been able to reach agreements on a full years fiscal budget, and so bottom line, the budget fight will come up quickly after the recess, and senator joe lieberman from connecticut says he expects a lot of fiscal fights over the next 18 months. take a listen. it s going to continue to dominate the next year and a half of this 112th session of congress. so in september when we come back, after the summer break, right away we ve got to start dealing with the budget for the federal fiscal here that begins october 1st. and there is a lot of work to do quickly. reporter: as we have scenery sent history with this congress ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110803:15:54:00

Before congress can meet and figure out this problem because they have now adjourned for their vacation. ironically a lot of those senators and congressman are going to be flying back to washington. and they will save money if they fly on spirit. jon: i m sure they ll watch. the ceo of spirit airlines. thank you. thank you, jon. jenna: we have new information crossing our international desk concerning former egyptian president hosni mubarak. really we are getting a look at him like we ve never seen him before. we have a new picture showing him 83 years old in a hospital bed and it looks like inside a cage. he s behind bars here as he goes on trial in cairo. outside the courthouse police making arrests following clashes between protestors there. rina ninan is on the phone. reporter: hosni mubarak pleaded not guilty. his son is facing corruption charges and also pleaded the ....

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