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Despite all the frustrations of Washington.
I've never been more hopeful about our future.
No more hopeful about America.
And I ask you to sustain that -- I believe we can keep the promise of our founding.
The idea that if you're willing to work hard.
It doesn't matter who you want.
-- -- you're gonna run for what you look like.
Or words -- loved it doesn't matter whether -- -- live scores.
-- Obama after being reelected to a second term.
On Tuesday night Election Day and now.
Two days later everyone has a lot to -- a ballot.
Where the economy when a nation is headed over the next four years Gary Shapiro is CEO the Consumer Electronics Association joining us now -- high.
Primary -- then how -- radio and a lot of people know CEA for putting on the biggest trade show for the consumer electronics industry which I've covered.
And it actually met in -- -- I don't know if you remember but thank you for coming on and on the so obviously is today we're talking about your thoughts on the election perhaps you can give us -- a silicon -- thoughts on.
On the election as well take it wherever you want.
While you're my thoughts I can't pretend to -- Silicon Valley and I I I association does have 2000.
Technology company members US companies.
And our trade show isn't under international CES last faces the largest in the nation in the world.
Look we're focused on innovation as an industry and and we you really believe that the most important thing which I think is bipartisan.
Is economic growth and that comes from innovation and then that generates economic activity so that's -- we're focused on.
My thoughts and election about personal -- professional person I'm I'm intensely disappointed I was out there for Romney I thought he was a phenomenally perfect candidate understood business.
And we do a great job and he was so frugal I just want to see frugality in the White House.
I kind of got.
You don't want President Obama to balance -- check.
Well not -- I can you know I had I was ready for who this is leadership symbolically and financially realistically you know as excited and passionate about Romney -- -- -- units by about and I always have.
So I am disappointed in his -- with an emotionally financially politically but having said that will survive -- Obama is a decent person.
-- -- what's best for America he has he is focused on economic growth and innovation.
He is four years under his belt he hasn't done anything really terrible that a president can do we -- got us into an unnecessary war he hasn't dropped bombs.
And I think he wants -- put his place in history and I'm hopeful.
That -- look to the business community you know more favorable way -- say look you guys create jobs we have to work together how do we create jobs -- we remove red tape.
How we get our arms around miss this budget situation and how that we grow and innovate.
Gary I love everything I -- said you're disappointed but you get it life goes on and he's he's a great man overall.
Then how is Sarah unanswered and I think that's.
You know not -- is hoping that having.
Obama and the White House again -- getting Romney in the White House for.
Four years would bring certainty to the market but as we saw yesterday and -- -- seeing today.
We're uncertain about anything so -- answer some of those certainties and if you want to talk about the fiscal -- first.
That would be great.
Well I think art you know looking back as to why I'm so sad is it everything in life with expectations whether it's with a with a -- in a relationship where her in business.
And definitely in the market and I think we.
Those of us favoring Romney -- self delusional and not believe in the polls and what they were saying -- not believing that the 2008 turnout was.
Was an -- that's we're believing in -- really wasn't an -- obviously was -- -- -- -- twelve so we were expecting Romney to -- I think the business community with so enamored with our own view and our view what what that everyone agrees with us that business is the most important thing in the world.
That it was obvious that Romney should be elected but -- -- wrong and we've learned and that's -- -- -- and I think that's -- the markets -- Reacted so -- to -- those on Wall Street had convinced themselves that Romney would -- even in Europe I think.
They give -- some some European business leaders and others and now we have to deal with the reality.
That is not gonna win so what's gonna happen with the fiscal -- what this movement has totally different components by the production -- now -- I think -- in the a lot of of talk in the next 45 days sixty days but on the tax portion that the bush tax cuts.
I do not believe that will be resolved.
Before January -- because I think the Grover Norquist tax pledge is so ingrained with almost -- Republican that they cannot get out of it.
Well but they can't get out of it after January 1 because factories will go up.
And then they can lower them a little bit and go down and so I think that is the solution for that portion of the fiscal cliff.
But speaker Boehner said yesterday.
That is it seems like he was willing to give a little bit on increasing taxes to that a -- you -- all.
Then maybe if the Republicans give a little that the Democrats will give a little bit and in the end we don't fall off the cliff and into his second recession in the first half of the new year.
Well my guess is as speaker Boehner is is being hit all day today -- what he meant by his colleagues who signed the Norquist pledge.
And you know whether it's.
They will try to re interpret that to say the cutting loopholes is not raising taxes.
Which -- believes they are.
Or weathered as of January when we can cut a deal because taxes are going up and hill I don't know I'm not part of that in -- -- but IA and look I wrote in a commentary two years ago this and let the bush tax cuts expire across the board.
We need to deal with the deficit solution.
We -- on record as an organization saying support the Hollings I'm sorry the the the -- -- the bipartisan deficit commission.
Simpson Bowles recommendations obviously they're dated now and we need to focus on this deficit and a big way and everyone's gonna have to give and you know high grade a little bit and say you just can't.
How that that people make a lot of money the only was -- -- sacrifice that won't solve the problem even if you -- -- all their money obviously that would destroy the economy destroyed business.
But everybody's gonna have to give we have to -- and titles we have to look at how we define disability the fastest growing thing I mean we're using 1950s them.
Definitions of what a disabled person is what kind of job they would have it's crazy.
People could work now but yet that's struggle obviously have to deal with Social Security so many things we can do that are easy pickings from eating eating and met my wife's a doctor I hear the horror stories about.
How they're wasting money because of how Medicare is run today there are things that can be fixed we don't have to -- all this morning at the door all the time.
But it's also raising revenue cutting spending and economic growth and economic growth is what we are about as an industry as a nation.
It's who we are it's what we do they were so good that it and we have to keep -- -- business.
So we can grow the economy and -- I think Romney and Obama would agree we have to get in the immigrants we want.
Yet that talk about the Ph.D.s.
If our strategies economic growth and innovation which is what we're better than no one else in the world.
We have we will number one we need free trade we have to -- trade agreements the rest of the world as we do -- for years we haven't done any.
Number two we have to unshackled the immigrants that are studying here and let them stay here we're kicking out people -- that are creating businesses it's insanity.
And would -- Obama's.
Think critics would say -- that jobs go to an American because so many Americans tens of millions don't have jobs.
Well those those Americans do not have Ph.D.s -- science from Harvard University with all respect these people are creating jobs.
They're in demand in their home countries they can get a job anywhere so what we -- -- seven billion dollars a year in National Science Foundation money as taxpayers.
Training them educating them in the state of the art stuff we want those -- isn't.
And then -- them they lost to China and India or wherever else and and invent something for their home country and not here.
Do you -- family I have heard both governor Romney and President Obama get emotional on this issue -- just -- the Republicans and Democrats have to just.
Cut the deal already right and make it happen and even Harry Reid said it could happen as early as next week so let's let's let's get that out of there.
Let's start doing we're getting more spectrum for innovative devices let's start.
When -- days and counting and I -- LTE.
Hello we me like you know these grades are all these tablets and Smartphones are when uses 25 times the data of an old phone.
And that's how would uses a 120 times we have to make sure these products to work and if we have unlicensed spectrum that we could have been even more products and Barbara look we -- every Internet company in the world is based -- every -- one.
That's who we are -- -- chips were great with apple were great with technology -- motion pictures and music we are the creators of the world we just have to -- people.
Cut back in the bureaucracy if if the President Obama could just give his message to the people he puts it agencies like we want business to occur your hand we have to stop attacking business that would be terrific as he is the leader and it's just not the people he puts in place.
Is what he says it's how we approaches things we have great companies like Google and Amazon and eBay.
And Intel and we have to start selling -- as a stop attacking them federal government.
Gary Shapiro -- cheerleader for business I love -- I appreciate your energy and certainly your perspective Gary Shapiro president and CEO of the consumer electronic agency.
And your article is up now on the website I voted for Romney but I'm still optimistic about the next four years we have -- -- doing guest.
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