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Detailed text transcripts for TV channel - FOXNEWS - 20110730:22:35:00

Look and listen of what s been going on the last couple of hours, what s your take away. the take away is that finally we re talking about spending cuts and not tax increases. thankful many people want to be critical of the tea party, but had it not been for that movement that occurred last election, we wouldn t be talking about purely spending cuts. we would be talking about tax increases. in fact, the only person talking about tax increases is barak obama. luckily congress is talking about how do we cut spending to match the debt ceiling increase that we need to do and make it real cuts? not the business as usual, let s talk about spending cuts, but not actually do them. thank goodness we re actually talking about spending cuts right now. rick: go ahead, sir. let s be clear, the democrats in both the house and the senate have agreed that revenues, taxes are not on the table with this round. they may be on the table later on and further discussions, but they re not on the table ....

Tea Party , Luckily Congress , President Obama , Tax Increases , We Wouldn T , Spending Cuts , Business As Usual , Debt Ceiling Increase , Rick Folbaum , United States Senate , The Democrats , No One ,

Detailed text transcripts for TV channel - FOXNEWS - 20110730:22:18:00

I think doesn t have the votes in the house or senate and is not likely to be ratified by the state. so i do think we should have a full and open debate about a balanced budget amendment and whether that s the best way to manage our finances going forward and there are a number of republicans who have urged that and i do think that is something we may very well end up doing. rick: what are the other elements, i apologize for interrupting. one of the other elements in the house version is this sort of trigger mechanism that would require the congress to get back at this all over again six months from now. if that were to work its way into a senate version, is that something that you could be in favor of? there is two different approaches. the boehner approach, the house approach, was to require six months from now to come back and do this whole thing all over again where it is the debt ceiling, the sovereign debt of the united states that s at risk. what many of us here are negotiat ....

Doesn T , United States Senate , Balanced Budget Amendment , Rick Folbaum , Luckily Congress , Trigger Mechanism , Debt Ceiling , Board Spending Cuts ,

Detailed text transcripts for TV channel - FOXNEWS - 20110730:22:12:00

Votes. this, the majority leader of the united states senate. for him to suggest that a matter of this magnitude in a body that requires 60 votes for almost everything is going to be done with 51 votes makes no sense at all, i object. mr. president? the objection is heard. first of all, it s unconscionable that the republicans would filibuster legislation to default on our national obligations. it s unprecedented. since 1962, congress raised the debt limit 74 times, including 18 times under president reagan and there was never a threat of a filibuster and was always by majority vote. mr. president? the republican leader. mr. president, i might say i actually cut short a conversation with the vice president to come out here for this important vote on a live ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110730:22:32:00

President s mind, may be acting in more of a bipartisan fashion. democrats in congress and some senate republicans have been listening and have shown themselves willing to make compromises to solve this crisis. now all of us, including republicans in the house of representatives, need to demonstrate the same kind of responsibility that the american people show every day. the time for putting party first is over. after that meeting at the white house this afternoon, senator reid said that they are not any closer to a deal. arthel? arthel: so did the president meet with republicans today? senate minority leader mitch mcconnell said he spoke by phone with the president and the vice president today and he came away feeling, quote, confident and optimistic that we ll get an agreement in the very near future. house republican speaker john boehner says the president needs to, quote, tell us what he s for, in essence what he will sign. but he also had a compliment for his political opp ....

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Detailed text transcripts for TV channel - FOXNEWS - 20110730:22:34:00

The republican leaders say that they talked to the president and that they feel optimistic. then the democratic leaders talked to the president and they say that they are not optimistic that a deal could get done. is the president sort of trying to weave a line here and maybe do an end around when it comes to democratic leadership in congress? i don t think there is an end around. i think that everybody wants to keep talking and the key here is there needs to be flexibility. people have to be willing to say, okay, i m not going to get 100% of what i want. where is the middle ground? what is one party get, what does the other party get? no one knows how this will turn out. i am encouraged by the fact that the republican leadership has said they do not want to default. they want to work this out. it s not easy. you have a majority of democrats in the senate, so the president can t work around the democratic leadership. i hope they keep talking to each other and come up with something t ....

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