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Detailed text transcripts for TV channel - FOXNEWS - 20110809:04:48:00

mark: even when you start arguing about this two trillion and that two trillion these are crazy numbers to be arguing. in the end, bob isn t it easier to make president downgrade stick than tea party downgrade? good segue, i like that. we don t have a downgrade. i was a downgrade by a fraudulent organize called standard & poor s that gave a aaa rating to mortgage backed securities which took us too the great recession. why we pay attention to these fools, i don t know who is responsible this is not just something unobama s watch. the tea party may have brought it to forefriend to the edge of the cliff to the forefront to the edge of the cliff because of these people. there was a plan worked out between obama and boehner. they took it back to the tea party and boehner couldn t get any tax increases. i d say i wouldn t call it their default, good talking ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110809:01:14:00

Developed. remember this? is there a risk that the united states could lose its aaa credit rating, yes or no? no risk of that. so standard & poor s is wrong, the united states will keep its aaa credit rating? absolutely. mark: got to love geithner s crystal ball. joining me with reaction to this south carolina senator jim demint. senator, there is something unbecoming about this? the first downgrade of the united states in 94 years. instead it is all about very unpersuasive political spin blaming it on a bunch of tea party guys. it seems mark, that everyone who disagrees with the president is a member of the tea party now. you know and you ve been predicting these kinds of things for years. over 70% of americans think we need to balance our budget. that s no small tea party group. that is a lot of common sense americans who understand that ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110809:01:02:00

One-way ticket to the case pan islands. things are not that desperate yet. become to the president s assessment this has always been a aaa nation and always will. it all has been, women it always be? absolutely not. s&p is looking at the fact that our gdp, 14 trillion our total debt four 14 trillion, not sustain able. we have to get in. fighting s&p is a recipe for disaster. right not responding seriously to what they are telling us about the economy eric? i would like to differ with my colleague gerri. i think we are aaa. if there is any way to be a quadruple a, we will be. how can you be quadruple a when you ve got 15 trillion dollars worth of debt? ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110809:04:02:00

One-way ticket to the case pan islands. things are not that desperate yet. become to the president s assessment this has always been a aaa nation and always will. it all has been, women it always be? absolutely not. s&p is looking at the fact that our gdp, 14 trillion our total debt four 14 trillion, not sustain able. we have to get in. fighting s&p is a recipe for disaster. right not responding seriously to what they are telling us about the economy eric? i would like to differ with my colleague gerri. i think we are aaa. if there is any way to be a quadruple a, we will be. how can you be quadruple a when you ve got 15 trillion dollars worth of debt? ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110809:04:03:00

credit rating agencies are supposed to rate your ability to pay the interest on the debt you have. we have around 29 billion dollar interest payment, per month. we take in as a country 175 to 200 billion dollars, per month. which means we will always be able to pay the debt down. we ve just announced we are going to increase the debt by for self trend trillion and interest rates seven trillion i m saying our ability to pay our debt is sound and in intact. we have to get our debt down p no doubt. head of the s&p who i spoke to today said off camera, granted but he did say if we had some sort of balanced budget amendment to the contusion where were weren t adding to the debt we wouldn t have been downgraded this isn t a partisan statement. this is the s&p trying to flex a little muscle. s&p has all kinds of ....

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