Consumer Confidence Drop News Today

Time we pushed it to the brink in august of 2011. the dow dropped more than 850 points and continued to drop for several weeks. for the first time in history, standard & poors downgraded the united states triple "a" credit rating, consumer confidence drop, hiring among small businesses slowed. joining me is republican congressman steve king from iowa. welcome, congressman. >> thanks for having me on this morning, carol, appreciate it. >> thank you for being here. both sides agreeing to raise the...

>> we dont really know because its never happened before. weve been wise enough to avoid it. you can expect and what most economists believe is that youd have the same kinds of effects wed have in the financial crisis. credit would tighten. you would see consumer confidence drop. business confidence would drop. those tend to metastasize. it would be self-inflicting a financial crisis. >> the difference to me, wolf is that when weve gone through this before, theres always been sort of a back room...

Profoundly boring for the rest of the world in general. but this was was really the moment in which, you know, if places like beijing and berlin, people started to say, you know what, maybe american political dysfunction is so extreme as to imperil the macrostability of the country. >> does this now actually lead to pressure? i mean, one complaint that the white house certainly had in 2011 was they talk to these business guys and business guys all said, yeah, this would be a disaster, but they d...

The beltway, which actually are profoundly boring for the rest of the world in general. but this was was really the moment in which, you know, if places like beijing and berlin, people started to say, you know what, maybe american political dysfunction is so extreme as to imperil the macrostability of the country. >> does this now actually lead to pressure? i mean, one complaint that the white house certainly had in 2011 was they talk to these business guys and business guys all said, yeah, this...

Fox has been told the fbi has already interviewed more than 100 people for these investigations. >> shepard: the economy is shaky obviously and it has folks keeping close watch on their wallets. according to the leading researcher of the consumer confidence board more americans say they are worried about jobs and where our economy is headed. its the fourth straight month we have seen consumer confidence drop. and that has a lot of shoppers apparently thinking twice before buying much. major reta...