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Detailed text transcripts for TV channel - FOXNEWS - 20110802:23:03:00

it s only fair. shepard: second stage is when a congressional committee is supposed to recommend another round of spending cuts. look how the house speaker john boehner was selling the plan to republicans. no tax hikes. he claims the new law necessary sense makes it impossible for the committee to raise taxes. team fox coverage tonight ed henry at the white house. first, mike emanuel on the hill. when will we find out who is going to be on this committee that makes the decisions about what to cut next? well, shep, senate republican leader mitch mcconnell said he is working on it didn t have an exact timetable but said it would be soon. a senate democratic leadership source says it should be sometime this week. as for what they will do, here is senate democratic leader harry reid. i think that people are going on the joint committee should be open to solving the debt problems of this country and not let ideology stand in the way. this is more about saving our country from the futu

Detailed text transcripts for TV channel - FOXNEWS - 20110802:22:04:00

speaker boehner, reid will choose the cochair from the group. the task find another $1.5 trillion in cuts by thig. people are going on the joint committee should be open to solving the debt problem of the country and not let ideology stand in the way. reporter: senator mark warner, virginia moderate democrat would like to be on the super committee after serving with the gang of six over the last year. we work in a bipartisan way that we actually had a plan laid out because i think the plan is too small. i m reluctant yet. we need to be closer to $4 trillion in debt reduction. reporter: democrats, including the white house, suggest members are serious about getting deficit under control and must be open to tax increases. we have to approach the big thorny issues, entitlements and revenues. the way to do that is through the committee. reporter: but mcconnell told fox s neil cavuto don t count on it. the chances of this passing with the appoint tees that boehner and i will p

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