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Detailed text transcripts for TV channel - FOXNEWS - 20100218:15:02:00

Part of the debt or deficit reduction process the commission will be stale mated and that is the policy side and it depends who the republicans put on and it is that republicans will not put members on the commission who are in favor of tax increaseses and that will complicate things from the beginning and, so it does not have the force of law and congress doesn t have to follow it and the president may not endorse it and it may not be able to get a majority and that is where we are now. martha: congress rejected the idea already and will they pay attention to anything that comes out of it? reporter: it is important to understand how congress rejected it. it passed in the house and would be a congressionally chartered commission with the execution process of whatever the commission came up with congress has to vote up or down on and there were 7 senate republicans who cosponsored the idea. and then voted against it which aggravated the white house considerably and now that the proces ....

Process The Commission , Policy Side , Congress Doesn T , Congressionally Chartered Commission , Execution Process , White House , Us Senate ,

Detailed text transcripts for TV channel - FOXNEWS - 20100218:15:03:00

The president to commit whatever it rmecommends, put in the next budget to congress and that would give it presidential authority and i asked if it was possible yesterday, to a top white house economist and here s what he told me. i m not going to speculate about commissions. i know the president s committed has committed in the budget that we need he wants a commission, that we ought to have a bipartisan solution. for these big serious long-run fiscal issues, which remain almost exactly the same form they have been for the last 20 years and we have known that we have got to face up to this fiscal reality. as we go forward. i was disappointed as were a lot of people, that when congress had the chance to pass a statutory commission. the president s committee to the commission in principle, martha, whether or not he ll take recommendations, should there be any, remains an open question based on my ....

White House , Process The Commission , Big Serious Long Run Fiscal Issues , Martha Maccallum ,

Detailed text transcripts for TV channel - FOXNEWS - 20100218:14:11:00

Developments this morning in the climate change debate, the united nations climate chief plans to resign after holding that post for nearly four years, igo devor will officially step down july 1st, 5 months before about 200 nations gather in mexico for another attempt to reach some kind of agreement to control greenhouse gases. previous efforts to set emissions targets at level that would be fair to both developing and industrial countries have failed. no word yet on de boer s successor. bill: so, more than $12 trillion, that s our nation s debt, on the big screen. look at that, martha, huh? they just keep gone going keep on going. martha: quite a number. bill: a number many economists say unsustainable and frankly unbelievable. there is a national debt commission expected to work on this behem either of a number behind me. when will the u.s. get behind the water? ....

United Nations , Climate Change Debate , Igo Devor Will , July 1st , Emissions Targets , Greenhouse Gases , De Boer , Church Bill , Martha Maccallum , 12 Trillion , 2 Trillion , Process The Commission ,

Detailed text transcripts for TV channel - FOXNEWS - 20100218:15:24:00

As to rise above partisanship and there will be 18 members. in addition, to the two cochairs, four others will be appointed by me, and six will be appointed by republican leaders, and six by democratic leaders. and their recommendations will require the approval of 14 of the commission s 18 members and that ensures that any recommendation coming out of this effort and sent forward to congress has to be bipartisan in nature. this commission is patterned on a bill that i supported for a binding commission that was proposed by democratic senator kent conrad and republican senator judd gregg. their proposal failed recently in the senate but i hope congressional leaders in both parties can step away from the partisan bickering and join the effort to serve the national interest. as important as this commission is, our fiscal challenge is too great to be solved with any one step alone. and we cannot wait to act. ....

Blue Dog Democrats , Process The Commission , Church Bill , Us Senate , Kent Conrad , Judd Gregg , Act Vitsz ,

Detailed text transcripts for TV channel - FOXNEWS - 20100218:15:23:00

Then it has. simpson s picture. through nearly two decades in e the u.s. senate he earned a reputation for putting common sense in and the people s welfare ahead of petty politics, that s number 2 republican in the senate, he made the tough choicesary to close deficits and played an role in bipartisan deficit reduction agreements. erskine bowles understands the importance of managing money responsibly in the public sect for where he ran the small business administration and served as president clinton s chief of staff. in that capacity he brokered the 1997 budget agreement with republicans that helped produce the first balanced budget in nearly 30 years. one is a good republican, and the other a good democrat. but above all, both are patriotic americans, who are answering their country s call, to free our future, from the stranglehold of debt. the commission will lead with structured will be structured ....

Us Senate , Alan Simpson , Petty Politics , Common Sense , Erskine Bowles , Deficit Reduction Agreements , Chief Of Staff , Budget Agreement , Small Business Administration , Process The Commission , Blue Dog Democrats , Air Gat Americans ,