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could affect all of us, including our own mail delivery. i'm wolf blitzer, you're in "the situation room." jtsdzer. it all begins in iowa. right now many of the republican presidential candidates are in that state, a state that holds the lead-off contest in 2012. they're working the crowds at the state fair before tomorrow's pivotal iowa straw poll. and they're taking direct aim at president obama's handling of the debt crisis and the u.s. economy. listen to some of the republican hopefuls, including sarah palin, who insists she still hasn't decided whether to run. >> i think the q...

got his start. this is where he's going to come to his end, in iowa. did you get the change and the hope that you believed in. >> well, it turnless out that those republican candidates had a little competition, too. >> i don't think i'm stealing anybody's spotlight. go, go find the other folks and say hello. >> now, sarah palin wasn't in the big debate last night and she rolled into the state fair, none t nonetheless, let everyone know she may yet join the republican dance. >> there's a lot of contemplation that needs to go into earth shattering life saving decision for everyone. >> ...

longer the elephant in the room, governor rick perry announces he's joining the republican party for president. >> he may be the republican front-runner but he was not feeling the love at the iowa state fair. he got heckled and laughed at over three words he said, words he may come to regret on this "american morning." -- captions by vitac -- www.vitac.com ing. >> oh, thank got it's friday. >> wait a minute. i've got to move my stuff. >> good morning. happy friday to you. it's august 12th. welcome to "american morning." up first, texas governor rick perry, the elephant in the room,...

400-plus-point gain was a blip or perhaps a building block. well, sadly, we got a decisive answer today, the dow industrial average plunged 520 points, 4.6% amid jitters about europe's debt crisis and growing resignation that the long-term prospects for growth here in the united states are bleak. alison kosik watched the massive selloff up close. >> john, we had yet another brutal session here on wall street today. you know, there's a lot of uncertainty about the economic outlook here in the u.s. and in europe as well. you know, there's worries about france being downgraded like the ...

the economy is still weak. it's going to help you make ends meet, but it's also going to mean more customers for businesses. it will increase demand. it's right for the economy, and i would sign that bill today if it came to my desk. [ applause ] tell congress to get past their differences and send me a road construction bill so that companies can put tens of thousands of people to work right now building our roads and bridges and airports and seaports. i mean, think about it. america used to have the best stuff, best roads, best airports, best seaports. we're slipping behind because...