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It is a miracle and there is no shortage of proposals that exist. the national journal published 11 ways without impacting the deficit to put america back to work and went through detailed suggestions that both members of congress and economists have come up with. the committee is charged with coming up by most, all committees can report to them between october 11 and 14th, i believe, their ideas and the committee on november 23rd comes up with their plan. failure to enact that plan would send, under my proposal, would send this jobs proposals that have been developed by the committee, directly to the floor of the house and senate respectively. neil: by when? guest: well, they have under the existing law to december 23rd. ....
Holiday season? forecast that. guest: well we have to see, we could have a holiday season that is okay because last year i was c.e.o. at best buy in 2008 we got slammed and in december, the holiday season was not as bad as the rest of the time for the same reason in terms of consumers being in the market when they need to buy gifts but when they can pull back, pulling back in terms of spending, but it will be an indication and when the economy grows it will be shortly after that we start to see consumer spending pick up. when people start seeing other people getting hired at their jobs or have some discretionary money they will start feeling better and spending and there is not a lot of signs of that. neil: what can turn it around for you? dot markets have an effect? even if you are involved not markets i think because the media pounces on them, ourself included, we have a nice string of them, people feel better. ....
Heated and i responded to someone to the left of me when i turned over and they asked what does the tea party stand for and i said limited government and they asked about the bush years and i said, look, i don t agree with some of the stuff that happened in the bush years, i didn t appreciate medicare part d or the educational no child left behind. we can have those argues at the state level better than at the national level. neil: what did you make of president saying as someone who has been called a socialist, not born here, taken arm freedoms all for lowering the rhetoric he knows from which you come and he has suffered it too. guest: if you look at some of the stuff, we had instances in iowa and i have stood up and said at times when there were things that were we appropriate because i don t think that is representative but they continue ....
From fitch? reporter: we don t have to worry about fitch downgrading us right now because they are facing the fear factor, they saw s&p downgrade the united states and they became vilified, the most hated company in the world. neil: accuse the accuser. they do not want to become vilified and we saw mcgraw hill, owner of s&p down 8 percent, and the s&p stock rise and 50 percent of the revenue last year was from north american operations from public issuers and government issuers so if they downgrade . neil: are you saying fitch was cowed? guest: they will royal the markets and if that happens the public issuers lose an opportunity to action sets and they get mad at the agency for that. neil: you are mad they were mad at the s&p and we know the senate banking committee is looking into the s&p downgrade and the white house has a chilled response to the s&p ....
That is what drove us down. interestingly, we got earnings from wal-mart and they were good. the earnings were good and they beat moving forward, and they said things will be better throughout the year and home depot gave us a good report. the thing is, you got the fundamentals and you got companies in the u.s. with good earnings, but it doesn t matter, trader who is a legend early today on the floor of the morning stock exchange said markets are held hostage by the politicians and, today, it was the politicians from the other side of the pond that drove markets low. neil: well put, chris, from fox business network. and one credit rating agency is saying the underlying fundamentals of united states are still strong but is there a hitch? you don t trust what you here ....