I have attached a file (below) that is another way of doing the effect you are after, hope you can follow my instructions, the effects are basic, however you can customise the attributes to your own requirements ans style.
I am working with Illustrator CS5.1 and I am assuming you know your way around the basic of Illustrator
Hope it is of help.
I would do it the way Mike suggested, with a few things differently.
Make the text with no fill and stroke, but in the Appearance panel at the Type level add two fills.
Click on the swatches menu of the bottom fill and in the swatches flyout, click the first button at the bottom and choose Patterns > Basic Graphics > Basic Graphics Lines, and select a line swatch.
From the fx button of the Appearance panel select Distort & Transform > Transform, with the preview checked set the horizontal and vertical move as desired and apply.
Press R key on your keyboard then hold Tilde key ~ (under the Esc) key on your keyboard and drag to rotate the pattern as desired. If necessary do the same while the Scale tool (hotkey S) is selected and in addition the Tilde hold Shift to scale the lines.
Thank you for help everyone! I have a lot more experience with Photoshop than I do with Illustrator, so I felt the most comfortable with TREX's advice. I really like the effect however, so I am going to save diagonal lines as a pattern like Mike suggested so I can do this faster in the future.
This was my first post on the forum, and I super happy with the quick and helpful respones!