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tv   Cavuto  FOX Business  January 1, 2013 11:00pm-12:00am EST

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is when this dwindles down they will ask if anyone wants to change their vote and if they don't want to change their vote they gavel it in and it becomes official. already it appears we are looking for at victory on this one unless you have 30 or 40 folks who change their vote. this thing is headed for final passage. diane: rich, what happens with entitlement reform and tax reform? the city of the things we haven't discussed tonight that these are the other issues that continue to come up. not only do we deal with tax rates in this case but does the tax code in general needs to be completely overhauled. what happens with that? is that completely to the site now? rich: the first offer we got after the election was house speaker john boehner saying we should do tax reform and spending and entitlement reform and 2013 should be the year for that. the regional framework the president speaker were working out including a mechanism to raise revenue through tax reform and to cut spending and
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entitlements through spending and entitlement reform next year. that mechanism never happen. you can set targets and the law and state tax will achieve $1 trillion in savings over 10 years and entitlement reform will achieve the same. they never reach that so that is up in the air right now. you do have a willingness from the white house also did old -- to do corporate tax reform. they have a proposal that would lower it to 20% and republicans are working on a bill that would lower corporate tax rates to 25%. there is more of a push among republicans to overhaul the entire tax bill so they have a victory here. they made permanent 99% of the bush tax rates but they want to overhaul the entire code for individuals and corporations. when you look at what congress is working on now there are different committees. the ways & means committee controlled by the republicans in the house who are regretting a tax code or have been writing a bill that rewrites the tax code.
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in the senate there are senators like rob portman, max baucus, they have different proposals and ideas on what to do with corporate taxes. on spending reform, to little different. >> and motion to reconsider is laid on the table. >> this thing passes, diane. diane: it's official, the house has passed a deal to avert the fiscal cliff pass by the senate earlier this morning. that deal, rich do you want to go through this for us? 400,000 for individuals, $450,000 for couples. just run through everything included in this. rich: what has does is deal with taxes. preserves the bush era raids for families earning less than four and a thousand dollars a year and individuals born to thousand dollars here but if you earn $10 million a year the rates stay the same for your first 400,000 or 480,000. on investment income, the same
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idea, 15% top rate capital gains and dividends for families make him less than $450,000 a year. amounts or the night your tax 20% on capital gains and dividends. permanently middle-class americans, tens of millions of fans won't have to pay the alternative minimum tax. the congress does this every year. they permanently decided to do what is called patching the amt. doctors are set to get a massive cut in their payments if they treat medicare payments. they decided to sell that back in for another year. this also turns off the sequester, the $94 billion in automatic spending cuts that are supposed to begin right now basically over the next year. they have turned off the first two months of those with some of the tax increase money and some smaller spending cuts throughout the budget. that is basically the idea of this entire proposal and it extends the research and development tax credit and some of the other business tax
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credit. it all goes basically through now to the president who has signaled he is going to sign this and will sign it and it will become law. it's a much smaller deal than what a number of folks wanted and the increase of the debt ceiling is not part of this. the payroll tax cut, tax deal from a couple of years ago if it to percentage point cut in your >> a 2% cut in your payroll taxes. that is going to go back up. if you notice that tax cut a couple of years ago and you are enjoying it on the first hundred thousand dollars of income if you make more than that, now everyone will have to pay to percentage points more to extend that. diane: i would like to run through some of the numbers. they both came out 85 republicans voting yes on 172 democrats voting yes. as you mentioned, this does not have to go back to the senate. this was back to the white house. those numbers surprise you at
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all? rich: i think he started to see the support from democrats earlier today when the democratic leaders were coming up to the microphone. almost pushing this to get through. you know, they were saying that they didn't like the deal. they felt as though it was their responsibility to pass it. republicans -- the support of the republicans got -- people say numbers between 30 and 40. some people quietly saying more than 100 republicans. 241 republicans in the house of representatives, so they didn't get their hat. that violates what is a rule that is more than half of the party that is not winnable war. we tackled the party is not going to belfour. it is not unprecedented for that to happen. there has been speculation that how speaker john boehner, he
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supported a bad deal or cut a bad deal or allow a bad deal in the eyes of this his conference to come up for a vote in the house of representatives, his speakership would be in jeopardy. there are plenty of folks i that would say that that analysis is overblown. he got a standing ovation yesterday and since then he is allowed to come to the floor. a number of high-profile republicans have voted against it and most house republicans have voted against it. he has a speakership vote coming up this week. that is interesting angle that will play out over capitol hill. but you still have a deal negotiated by the senate minority leader. the vice president has overwhelming support in the u.s. senate. a number of democrats, and enough republicans that wasn't a total embarrassment for the house speaker. not near a majority, but still a good chunk. diane: we are now expecting president obama to be speaking. that is what we are hearing from the white house. what do you think we will hear from the president?
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rich: the president will be very happy that congress did this. i wouldn't be surprised if the president made note that he has been urging congress to act and that they should not have taken this long to act, but this is the way it happened and he will have to sign the bill as he signaled that he would. it was worked out with a the signoff from the white house when it finally reached the agreement yesterday. questioning whether the president will mention the next round of this, questioning the whether he will mention the spending cuts in exchange for the debt ceiling. here we are in washington. we have settled this bill. this compromised and now we are waiting to see what the president will say about the next round. in a short while we will be on the next. diane: let's bring jerry lee be back. trading overseas already. looking at australia. we also have hong kong trading. you can see the upside right now. investors seem pretty happy about a deal to lease for the
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interim. we were talking to jerry lee be. -- jerry the let's talk about that. diane: the path he took to get there, and because it was so hard to get there, addition is the mechanism in washington is not working for it i wonder if you expect to see that again. they reached a deal. they reached it in time, kind of. it took a lot of time and effort and what does it do for confidence when a speaker when he talked about confidence and the efficiency of lawmakers moving things along, i did
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research. you know, back in july 2011, the s&p was up 1350. in the course of a month, a drop of 3.5% broccoli. if you think about that move, this bill is patchwork. unfortunately in dollars to the debt. $60.4 trillion per that the legal borrowing authority that we have. now that we have accelerated back, i feel as though -- and i would assume the market would feel this way -- as though the sense of urgency is increased to get the next thing passed. when you look at the commentary from mostly the republican side -- there was a disdain. it just felt like there was a
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clear disappointment. obvious and the republicans don't want to be responsible, but you can feel the tension. i think that will translate to the equity. these guys have to act quickly. they were inefficient at getting this part of it on. this is when the real challenge begins as the spending cuts. i have a feeling in my hypothesis is that the rally we will see will be short-lived and they're holding on. again, it's going to be very, very short-lived. it wouldn't be surprised if we had a seven to 10% lower going into the last couple of weeks before we hit the debt ceiling again. diane: we have had a deal worked
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out. it was let's deal with tax increases. so how do you expect investors to play that when you stop holding out for spending cuts? jared: you have to get smart as an investor. the s&p has had a tremendous run. if you look back, we are almost in four years of a bull market. i think at this point it is is a good time to really begin to get defensive. i cannot put a timeframe on when washington is going to come to an agreement. frankly i have little faith in washington at this point. don't forget that the american public, main street is going to be seeing these headlines and yet, they maybe won't get big
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chunks taken out of their pay, but they are going to sidelines and that's going to scare them. i had a conversation with my grandmother and she said i'm really nervous about what's happening with this country. she's on a fixed income. for checks and balances are set. she said i will hold off on buying ipods and ipod and stuff like that. so again, if it's touching people like my grandmother who are retired and software, it's touching the working men and women in america as well, and that's going to affect spending in the market. diane: we have heard that for several ceos and companies. a lot of the regulations to make them not want to hire and spend and contribute to economic growth. it is a hardline find here. shifting back to the downgrades.
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i wonder if you think that it's likely, based on how difficult was to get the deal. >> the possibility of a downgrade i was 20 or 30% of an actual download. the only negative 75 or 80% from all the credit agencies, perhaps. that is going to be enough to spook the markets. step back and look at this logically. we've been down this road before. we watched this movie hasn't been good. we know how it ends, but we are in a different position now. there is no escape route at this point. we have to come up with a solution and make these cuts. once those cuts are made, the
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programs are going to be cut? then you have to think of the ramifications of the spending cuts. and then you have for their potential detriment. i hate to be a debbie downer, but i don't see a lot of reason for folks to be elated and excited about the marketplace. although if you look at that content of the market right now, we are not in an overly euphoric state. the reactions are going to be a little bit more muted than it would be if we were rallying up, you know, 10 or 15% over the past month or so. it will be helpful in terms of the severity of a pullback. it is not out of the question at all. i think it's very likely. diane: at the same time, some experts say that failure here was priced into the market and
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that gives things a boost. at least for the short-term? >> i went several times here on fox business and said all of my colleagues expect something to get done. what we didn't know is that the details would be. but then we are left wondering. it almost seems like what the we hear from here that we don't have any hardline on this or the spending cuts for that we have a new deadline. if you will, to look forward to it to deal with. it really wasn't a big event. i don't think the bulk of the markets bought failure for the majority thought that something was going to get past and i think that now it turns into weird we where do we go from here and how does this affect spending habits? >> at least every average american out there. they want to know how it affects
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them in the future. how will this affect their tax bill and so on. it seems like the answer is still very blurry. >> yes, as clear as water and louisiana. my mother -- i've been in touch with my family for the holidays. probably you're going to get a little bit less money, she said, with the hikes and medicare costs, but i told her not to panic. that's the best thing that we could say to america right now. keep living your life. i don't think this is a catastrophic blow. again, going to view this and if you are a savvy investor in the and the short-term trader, do something to protect your portfolio. you are going to have to weather some storms.
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but i think at the end of the day hopefully things will turn out okay. we get through these things and unfortunately it's volatility in between these sorts of things. diane: what you're seeing on the right-hand side of your screen is preparation for president obama come out. we are waiting for the press conference. the senate bill will head to the white house where it is also expected to be passed by the president, and that will avoid losing the bush era tax cuts for anybody -- individuals making under $100,000 a year and couples making $450,000 per year. above that threshold we will see taxes go up. spending cuts have been postponed. we will not be doing with the
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sequestration or the spending cuts or agree to the last time i had to deal with the debt ceiling negotiations. we are talking to jared levy about how this affects the markets. there's a ton of uncertainty, especially with the spending cuts out there the debt ceiling, so out there, and i wonder how that has been affected by the lack of performance. another thing that kept being discussed was tax increases or no tax increases. for the tax code in general needs to be overhauled.
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and what can be done to tackle the deck dataset? jared: 60 or 70% of working americans have done some meals prepared for taxes for them. you could spend three or four or $500 sometimes preferring the sexes. especially if you're following deductions and such. i think that a reformed drug tax system, mainly at the corporate level -- but for the average individual, wouldn't it be nice to clean it up? chances of that happening are slim to none.
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i think that is a ways off. in terms of how that affects the markets. i don't think that that is at the forefront of the market right now. it's something thht we have been dealing with. for as long as i have been alive, filing my taxes has been one of the biggest frustrations of my year. and again, the average american does has to deal with that and it was streamlined. that would certainly be a positive factor. we have to get past the bickering on what things to cut. he given a couple of days, and if it doesn't happen right away, you can start to hear a lot more of this.
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diane: we wish you a happy new year. we are waiting for president obama to come out and speak on us any second now. he will be speaking after the house passed a deal to avoid the fiscal cliff it was passed by the senate earlier. the senate passed it 89 to eight. it was also passed the house. this would raise taxes on individuals making more than $400,000 per year for couples earning $450,000 per year. here is the president. let's listen to what he has to say to happy new year, everybody. essential promise of my campaign was to change the tax code that was too skewed towards the wealthy at the expense of working middle-class americans. tonight, we have done that. thanks to the votes of democrats and republicans in congress. i will sign a law that raises taxes on the wealthiest 2% of
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americans while preventing a middle-class tax hike that could send the economy back into recession. that obviously had a severe impact on families across america. i want to thank all of the leaders of the house and senate. in particular, i want to thank the work that was done by my extraordinary vice president joe biden, as well as leader harry reid. many americans will not see their income tax is love. many will continue to receive tax cut. companies will receive tax credits 2 million americans who are out of work but are out
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there looking, pounding the pavement, want to continue to receive unemployment benefits as long as they are actively looking for a job. but i think that we all recognize that this law is just one step in the broader effort to strengthen our economy and bought an opportunity for everybody. the fact is that the deficit is too high. we are still investing too little in the things that we need for the economy to grow as fast it should. we are trying to negotiate larger agreement. we are providing investments in areas like education and job training. unfortunately, there just wasn't enough support or time for that kind of larger agreement in a lame-duck session of congress.
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if the messy nature of the process. but we are continuing to chip away at the problems step-by-step. last year i signed into law a $1.7 trillion in deficit reduction there will be more deficit reduction as congress decides what to do about the automatic spending cuts that we have now delayed for two months. as i have demonstrated throughout the past several weeks, i am very open to compromise i believe that we have to find ways to reform the
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program. there is further spending that we can eliminate in government. but we can't simply cut away to prosperity. cutting spending has to go hand-in-hand with further reforms to our tax code so that the wealthiest corporations and individuals can take advantage of loopholes and deductions that aren't available to most americans. and we can't keep putting things like basic research and new technology and still expect to succeed in the 21st century economy.. we have to do it in a balanced way. even as we get a handle on our spending. i will not have another debate with this congress over whether
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or not they should pay the bills that they have wrapped up through the laws they pass. we cannot pay bills we have already incurred. the consequences would be catastrophic. borrowers from a fiscal cliff we can't go down that path again. today's agreement enshrined the principle in the law that will remain in place as long as i am president. the deficit needs to be reduced in a way that is balanced. everybody pays their fair share. everyone does their part. that is how our economy works best.
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that is how we grow. the total of all the budget agreements, we have reached so far, proves that there is a path forward, but it is possible, if we focus on the politics -- one on what is right for the country. the one thing that i think that hopefully the new year will focus on is being if we can put a package like this together with a little bit less drama. little less brinksmanssip. not scare the heck out of folks quite as much. we can come together as democrats and republicans to cut spending and raise revenue in a way that reduces deficit of projects are middle-class and provides for everybody that is willing to work hard. we can find a way to afford the investments we need to grow and compete. we can settle this debate. or at the very least, not allow it to be so all consuming all the time that it stops us from needing a host of other
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challenges that we face. creating jobs. boosting incomes. fixing infrastructure and immigration system. protecting our planet from the harmful effects of climate change and boosting domestic energy production. protecting our kids from the horrors of gun violence. it's not just possible to do these things, it's an obligation to ourselves and future generations, and i look forward to working with every single member of congress to meet this obligation in the new year. and i hope that everybody now gets at least one day off, or a few days off, so that people can refresh themselves. we will have a lot to do in 2013. thank you, everybody. happy new year. [talking over each other] diane: hello, you are watching fox business, and that was president obama just now speaking about a deal that congress reached today to avoid the automatic tax hikes and spending cuts the new deal will
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have those tax hikes only affecting people making more than $400,000 per year for individuals, couples making $450,000 per year, spending cuts have been pushed and we will continue to see debates on. he will bring in rich edson has been live from capitol hill all day. working hard to keep us updated, which we appreciate. the president says this will reduce the deficit. someone has to be wrong here. >> speaker there are a number of different ways that folks are dissecting what this means for the deficit and debt. we are on to the next round. president obama, first off said that he refuses to have a debt
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ceiling fight with congress. it's really up up to congress because it's congress that passes an increase and republicans have a very different view on that. we have already started the debt ceiling fight a few minutes after the congress has passed a fiscal cliff deal. on top of that coming here from the president about the next round on deficit reductions, saying that he wants to have the wealthiest corporations and individuals take advantage of fewer tax loopholes. he asserted that his rate increase and now he wants to deal with loopholes and deductions. he says that he wants more spending and investments at the white house calls it on infrastructure and research and development and pretty much the same fight we have been having over and over again for the last four years. the president outlined his position. not really anything new. republicans have been outlining their position. mitch mcconnell is out with a statement saying that we need to get a handle on spending.
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let's get moving on spending reductions. so we now have the next step here. and also the next fight here. we have been going over throughout the night, but $200 billion of deficit on trade deficit spending before we do reach the debt ceiling, and enacted last it's about the next couple of months to the next fight has started. diane: that was another interesting point. in the same sentence as making spending cuts going forward, the president says we are investing too little in the economy. how do those things work together? >> what he wants to do is basically take money that you would get from closing loopholes and applying that to infrastructure spending and some of the other spending. you look at what has happened over the last couple of weeks, the last two weeks with these negotiations and it doesn't do a great sense that they will be able to do too much. for the second time, the house
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speaker, john boehner, president obama failed to reach a deal. then they go on with mitch mcconnell, harry reid, they reach an impasse and they failed to reach a deal. it isn't the only democrats and republicans anywhere near possible of working with each other is mitch mcconnell and the vice president, joe biden. the deal that they have cut have been mostly deals that have extended our current tax rates a couple of years until they expired last night. and for unemployment insurance extension and things that have taken a hit. this latest deal deals with a tax cut. with the stroke of midnight hit -- as far as the debt and deficit, dealing with entitlements, none of that has really been touched. none of many of the leaders have a very difficult time even
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getting together the way that the president described it as chipping away. the next move is smaller moves to address the deficit as opposed to the grand bargain of folks have been talking about. the president and the speaker then attempting negotiation in 2011. diane: did they work with something as big as the debt ceiling when i. >> it could work. it all depends. you're going to get the replay unless someone capitulates what we have in the summer of 2011. where we are coming up the debt ceiling. it's not the type of thing where you can go over the fiscal cliff. the irs can tell businesses that they can withhold the raids for the last 10 years or so. the debt ceiling is something that is a permanent deadline. we are going to see some pretty frantic negotiations that could make this look like a little bit
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smaller. diane: we are also talking about speaker boehner and how he didn't have to vote here, but he did cast a vote in favor of the deal. come on thursday we get a new congress and the speaker again has to run for the election. how is this expected to affect that? rich: you look right now -- let's break down what the republicans did on this vote. eric cantor voted against it. house majority kevin mccarthy voted against it. peter roskam voted against it. paul ryan, the vice presidential candidate voted for it. so you have a very split republican leadership perhaps speaker boehner might not be up to the task. that could play into it, although he has gone broad support and it may not be an issue the one that is rich edson
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lycra capital. thank you for keeping us updated on the solvay, we know it's been a busy day. we appreciate it. rich: thank you. diane: that's the latest on the fiscal cliff. we will not be going over it. we finally have a deal. the president that's one small step. tune in to fox business tomorrow morning at 5:00 a.m. the maxis has been a fox business special report. the return you to your regularly scheduled programming.
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selectquote has helped make term life insurance affordable for hundreds of thousands of people since 1985. how about you? just call this number or visit selectquote dot com. neil: probably not a fox alert to tell you that huge celebrities like democrat they actuallyelp the president win if you think about it. but not ery star was going gaga over the president. suzanne somers says that that is a risk for them as well. if you areonservative, you are not welcome in hollywood. >> is it really does liberal bastion? >> yes, it is a liberal bastion. >> they do't associate with moderate to conservative? >> it is all about that ideology. you know, when you make that much money, you don't care.
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because you have your money. neil: would they think about when j lovitz came along. >> he's not invited either he's never going to be invited. ne: but he said enough of this. >> i thought that was interesting. not many people speak out like that. i have a little busines so i like to not offend anybody. so i don't tell anybody my views either way. neil: i would say i'm a centrist that leans to the right. neil: you have to be moderate on her persona non grata. >> i sell my little life with my organic skincare. neil: that's a lot of moneyor your little skincare line. >> i didn't leave tv. i was escorted and booted out the door in and fired.
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i get tired a lot. >> how dare me to expect them to pay me what they pay the men. but then it was good because i thought i will never work for anybody else again. so i work for myself, and i have all these years. >> all the beauty products and things, everything around her image, do you feel a lot of pressure without? to feel beautiful? >> i just wake up like this and it's so easy. neil: me too. [laughter] i saw you talk to will tell welsh. >> my thing is that she knows her image is everything. everything has to be right. >> her writing is very good anyway. i feel pretty confident.
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neil: you know, the writing at 50 pounds, did you know that? [laughter] [talking over each other] [talking over each other] neil: will this be mitt romney's disadvantage to the media? >> it probably is, but it won't be to me. >> i think that he should have come out a long time ago and said this. but anyway i'm glad he did. most of my friends are. neil: he's not going to pick up any additional electoral votes, maybe he did it for all the right reasons. >> it uld've been perfect timing. neil: what do you mean? >> well, you know, -- neil: with some liberal friends hold off on giving him more
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money? >> i think that a contingency did. this is what they really want. if they are not thinking about the ramifications on t economy and what's goingo happen in this country goes socialist. neil: do you think that this country will go socialist? >> i do worry. i have my little business and i do worry. at a certain point when you're a small business like i am -- neil: you're not a small business. you are a warren buffett with long-haired if you reach a point where you get to 75%, ich is being tossed around there, how can you keep your employees? at some point when you're not making any profit. neil: a lot of what you say, it
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is 35% right now, that's what you're saying, you bring in up to 39.6% under clinton. i might be ae to live without. i might not. is their level of crunching the numbers? you are pretty good at math? >> i am married to a canadian and i can always run to canada. [laughter] he has dual citizenship. neil: may be billionaires are not focusing on jobs because they are focusing on their love lives or their lack of one. how the grinch are striking out these days. it could be a real beach for jobs.
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neil: if you are rich, the president is itching to go after you. my next guest says that is bad, but this could be worse. millionaires and billionaires are having a taxing good time finding love. but 1-800-flowers, jim mccann says that he has the fix for that. i am finding that the peak is in. they are all telling me about what things are all about, the number one or number two show in the country is thebig ng theory, so we are all celebrating the geek. neil: this idea that if you have this business, very good common sense, i think they are looking for answers in all the wrong places. how do you invite them?
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>> i will tell you as a florist, it is good busness being in an ability to help people and relationships. i have been a social worker, i have been a florist, and both have a common theme. i wrote a book about my discoveries about the thing that makes us unique on this planet, which is a core of the story. the matter what, everything we do, whether it's the places we work with a service organizations that we might want to come in the sporting activities, we are all seeking out social intimacy. and if you are a hard-working and hardcharging geek of some success or not, you may not have the opportunity to meet somne, yet we are searching for that every day. neil: you have a lot of guys that send flowers from secret admirers and all that. >> we are very happy to hear that. neil: you were telling me during the break that the number of
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guys who send flowers out is not a reflection of a ate or niversary is because the they are sorry or they did something stupid. >> there's not a days that goes by that i don't have a young guy come up to me and say you saved my butt so many times because i've always screwed up. either we make less mistakes, but it's a hh percentage for young men. not so much fothe older guys. they be we have smartened up. neil: you should have an apology bouquet. we have a dog use uk. do people use flowers to make a statement?
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>> during the last few years, the top recessionary times, we saw a number of transactions with the average ticket was down. and our food businesses held up even better. a box of chocolates might be a little bit less ephemeral than a bouquet of flowers. birthdays are still going to come around. all of those celebratory occasis are going to come around they need to participate in. we had a nice little service that will help others. neil: who better than the guy who plays cliff onhow jobs are falling off a cliff. john mica murder on layouts that are way out of the norm. and whi he says his fix is better than washington's. bar none.
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wh some people struggle with their mortgage payments, they become frozen, petrified.
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not knowing what tdo, they do nothing, but the people who do sothing, the people who take action, are far more likely to get the most positive outcome. making home affordable is a free government program. call now to talk one on one with a housing expert about the options that are right for you. real help, real answers right now.
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neil: clip is going postal. a famous actor who played clip on the hit tv show cheers, with millions of workers struggling to find work, he is working to get actors back to work.
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neil: it was almost ingrained in us to move away from that. it really killed us, do not. >> yes, it did. i started talking about the subject about 10 years ago when the watewas at her ankles and now it's up to her chin. because the average age of someone who is skilled and can make things, whether it's in a fax factory or a plumber or welder is about 57 years old. very soon, they will all be retired and we have no one coming up after them. everyone is talking about what kind of capricorn where. but we are heading for a crisis. while business, whatever the businesses, stems from two things. mining, manufacturing and farming. everything springs from now. you have to have people showing to have the skills.
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and we have never taught her kids the skills the last 30 years. they would sooner turn those guys away and search for cheaper labor. the reality is decades. you are not going to call a plumber from china to unclog your toilet or a welder. neil: so no you are sayg that we have to encourage this. so we put almost a scarlet letter to a? >> it is hollywood's fixation they came out of the charlie chaplin view of factory workers. it's not like that anymore. you have to have computer skills. people who give advice to high school kids should say, tart
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educating kids like we used to. neil: even if they found their jobs that don't pay what they used to, in this environment, it will pay you anything you are going to get and you will be grateful for it. >> the government has to understand. [talking over each other] [talking over each other] neil: what about barack obama? >> the government needs to get
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out of the way. manufacturing is to america what spinach is to popeye. the strength of america is manufactured. neil: you don't think we can have a great country based on service? >> again, you go back to our terminals and electricity has to come through there. where you get do you get that from? a hydroelectric dam words power that is coal-fired. and now now they have all of these restrictions on coal mining and also the hydroelectric and i have talked to the people and they said that they can't find worker that work on the turbines to repair
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the turbines. so the day to come. it could come when no one is around to manufacture it. every little part has to be shaped. someone has to take a chunk of l mel and put it into the machine and all that down to 120 southend-- 120,000th of an inch. neil: you been in every pixar movie. >> .true, but in the long haul, actors, sports, celebrities, the rest of us, we aren't. neil: how did you do it? w did you succeed and do the things you do? how do you you still be a big success in hollyod

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