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Stephen do you one of the big headlines out of Washington today is we get more and more picks for this super committee this super congress.
And I'm wondering what you make of it one controversial name in particular is senator senator Patty Murray.
Why -- -- so controversy ill and things people actually get anything done.
Well I'm very skeptical that anything significant will come out of that the debt committee and it's one of the reasons that I was so concerned about the size and scope of the defense cuts that -- Put in place as part of this trigger.
Patty Murray is interesting because she runs the Democrats -- the senate Democrats campaign committee she is in a arguably.
The most political person has to be because of her role as head of that committee.
The campaign committee.
The most political person in the US senate handed she has been put on this this panel by Harry Reid to make arguments presumably on behalf of those people who believe that.
Medicare and other entitlements shouldn't be touched at all.
If you look at that the democratic campaign committee's web site that she runs.
It has a petition to stop Republicans from destroying Medicare you know all of -- sort of inflammatory language.
And and and promises that.
Campaign defending Medicare for Democrats will be -- election issue of the 2012 elections but that doesn't sound like somebody who's ready to sit down across the table for Republicans.
And get at what is clearly going to be the driver of US debt in the near future well.
Ambassador to use than if we can't solve that problem are -- gonna have another recession.
Is the market gonna continue in this -- trading down down down.
Well there's so much uncertain.
-- right now and investors hate uncertainty.
What we need is to find a way to stabilize.
To give people an idea and an understanding that we're going to.
Get on back on a pro growth path.
That requires the government to step back -- frankly I'm glad that the president's out of town because.
When the presidency in town the kind of leadership we guess this is I -- poll result today that.
Of the American public believe the best way to restore.
Growth is to raise taxes on the wealthy.
That's an example of of the kind of leadership we're getting from this president I don't know any economist who would endorse that view.
So perhaps that we were best off if if the US government gets out of town for -- well.
James is there any chance of the S&P decision.
Can we get a different one could it be repealed or taken back I I know that there's a senate can add committee that's gonna have an investigation into this and their put a lot of pressure on Saturn.
Course I don't think any pressure's going to change the rating I think the only thing that will change the rating is but to each year to some of the guidelines that they've set out which is to come up with some some cuts very quickly in the deficit.
But there will have huge credibility problems we think they've got credibility problems now if -- reversed that rating.
They'll have even more and I think ultimately.
We've got more chance on the downside -- the upside that's what they're telling us if we don't get the other political act together we got a long way to -- that's for sure in the cold Stephen James ambassador Miller thanks so much for helping us out tonight we really appreciate it.
You thank you.
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