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Your cnbc market wrap. here is a look at how stocks are doing with 20 minutes left in the trading day. right now we are seeing the dow down about 153 points, the s&p down 15, the nasdaq down a little over 33 points. reacting to the country's growing deficit problem, the standard & poor's rating service has lowered its long-term outlook on the national debt from stable to negative. the agency says high income in a diversified and flex eible economy -- gas prices has continued it's meteoric rise. the national average is $3.83 per gallon. for those who haven't sub t submitted their tax returns,...

Explanation was while iowa overall is handling the recession pretty well compared to other states, your unemployment rate is below the national average that, part of the state has lost the small towns that had one that's correct that are gone. him coming to talk it is one thing. what do you want from the administration? >> he's doing a lot about it. thanks to president obama and this administration, we are pushing forward in terms of renewable energy and we were at siemans yesterday. they make wind blades. iowa is now the national leader in terms of renewable energy producing 20% of our power ...

Is this more of a fund-raiser, then? >> well, i don't really quite know. we have not -- our organization, freedomworks, has not been involved with it. most of the grass-roots activists that we work with across the country are not involved with it. we don't really know what the model is or what their purpose is. we could only take it as face value. look, it's a very diversified world. >> does it concern you when you see some republicans pulling out, then, people who don't want to be involved? >> no, it's not -- it doesn't concern me. look, the grass-roots activist movement for small government ...

Two conservative congresswomen canceled their appearances over concerns of how money raised from the event might be used. and it's been rumored that keynote speaker, sarah palin, is getting $100,000 to appear. joining me now, dick armey, former congressman and house majority leader and tied to the tea party movement. sir, good to have you. regarding that controversy surrounding the convention, high the high price of admission, and where does the money go? >> i really can't answer that. you know, the grass-roots movement in america, small-government grass roots often known as the tea party move...

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