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Detailed text transcripts for TV channel - FOXNEWS - 20110806:21:08:00

Reserve and wall street meeting held earlier in the week. indications there that this downgrade was that not expected by high level officials on wall street and at the treasury and new york federal reserve earlier in the week. so rick, this is big news. what s & p is saying, is that we could go to aa in six months time if those extra $1.3 trillion in cuts are not found for over that ten-year period. s & p also telling fox business this is a bipartisan creation. they want to see more revenue coming into the government. back to you. rick: okay. first of all, put a little more pressure on the super committee that will be coming up with more of these cuts. first of all, for those people out there who may not be following this as closely as you business folks do, am i wrong to think of this as being like someone whose personal score or credit rating, except in this case, we re talking about the whole country? yes. what we re telling you about is whether or not the u.s. debt will be seen ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110806:20:33:00

Thanks for joining us. i want to ask you first of all, with the s&p right to downgrade our credit rt s right or wrong, it is what it is and it is many of us saw coming. we had been warned time and time again, unless you permanently change the way washington spends money you will get into a bad problem. rick: what do you think the impact will be for people of your state and all americans? it s difficult to predict what the impact will be because this is completely unprecedented. what i do predict in order to get out of it, we as americans have to come together, not as democrats or republicans, but simply as americans and recognize in order to save our federal government, in order to save our economic prosperity, to preserve our way of life, we to get spending under control. as i explained in my freedom agenda, the only way it s going ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110806:21:55:00

Talk of spending cuts, spending will be higher in a few years. 34% think it will be about the same. only one in six think that really spending will go down. the terminology they use in washington is designed to deceive. heather: the spending cuts being part of the problem, a lot of folks also thinking that perhaps the administration is part of the problem. correct? well, that s right. look, president obama is getting poor marks for handling the economy. when a baseball team goes in the slump, you blame the manager. 50% now say the president is doing a poor job and the economy, that matches the worst total of his administration. rick: and what about the congress who played a large role in the debt deal that eventually came to pass, what do people think about congress? you just can t really go much lower. only 6% single digit, 6%, say the congress is doing a good or excellent job. 61% say poor. by the way, we asked people if your vote could keep or replace ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110806:21:27:00

Ashower our creditors that we re serious about getting our fiscal house in order. heather: maybe this will encourage that super congress to come up with more than $1.2 trillion in cuts by thanksgiving. what do you think about that? unless they re willing to debate entitlements, the house passed a budget that made significant long-term changes to actually protect medicare and social security by making reforms to make it workable, that s where we had the problem. heather: all right. when you have president obama and senator reid refusing to touch entitlements, we can t touch the problem. heather: we ll see what the president has to say, if he says anything about this on monday. thank you very much. thank you. rick: there is now a black mark on america s perfect credit score. but the political fallout still to be determined. we ll talk about what that might mean with a democrat and republican when we come right back. heather: a camera on a bus. we showed you this, it captu ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110806:21:35:00

Gentlemen. one second. yesterday the president said that he would like to sort of share the blame for the state of the economy, talking about it as being a republican problem as well as a democrat problem. this poll from cbs news/ new york times this past week shows congressional approval rating. look at that. and adam, in all fairness, the republicans control the house of representatives. do they not deserve any of the blame here? well, first of all, there is a few things about that poll. number one, disapproval of congress is always high. it doesn t mean anything. there is no correlation between what happens on election day. presidential job approval numbers are much more meaningful. but you know what i was looking at that poll. it s a national poll by the new york times and guess what? it skews democrats. surprise, surprise. it s a 12 point democrat advantage where normal polls like gallup, rasmussen and the like have is a two point spread. it s relatively even with a lot more ....

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