Bill Clinton: “Oh, absolutely. Well, I think part of that work has to be done in California itself. That's why I was very enthusiastic…”

“Oh, absolutely. Well, I think part of that work has to be done in California itself. That's why I was very enthusiastic when the leaders of the House and the Senate and the Governors co-sponsored that bipartisan economic conference recently that I spoke to by satellite technology. I think California needs a manufacturing base, in my judgment. And there needs to be a serious evaluation of where you are with regard to that competitively and what you have to do to rebuild it. But I believe that most of the companies will stay where they are if they have enough work to keep them going. And we are allocating over the course of the next 4 or 5 years, if my budget passes, about $20 billion to help the private sector convert this economy and to deal with the dislocations caused by defense cutbacks and by other differences in the economy. And a lot of those companies are going to be able to--they will be competing with one another, but they'll be competing with one another for a much bigger economic pie in terms of the exploration of new technologies. Let me just give you one example. There's an effort going on in California similar to the one I saw at the Westinghouse plant in Maryland 2 days ago to develop an electric car. There are now electric cars that run 80 miles or more an hour, that run over 100 miles without being recharged. You get up to about 200 miles without being recharged, and then you begin to talk about real commercial viability. That could put an unbelievable number of people to work in the State of California.”