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Bill Rancic on 'Fox & Friends'

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    Entrepreneur talks new baby

  • Duration 3:19
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Congress doesn't act soon we may be slapped with nearly 400 billion dollars in tax hikes.

By the end of the year sent to avoid a fiscal -- to deal with -- some US businesses are cutting back on hiring workers but could this actually fueling economic slowdown we're joined right now by judge -- -- reality TV show -- -- -- CK bill fellow guests weren't -- person.

So what and what about that question could it could slow down the economy an effort to cut back.

Well I think absolutely I think people are preparing for worst case scenarios -- a business owner.

But Wi-Fi on a couple restaurants in Chicago certainly you know we're not taking it that far but I think bigger businesses are anticipating worst case scenarios instead of asking.

Yourself how much can I make people are saying -- how much could I lose and it's a much different mindset for entrepreneurs.

And so front and business owners who are not hiring people because they fear tax increases that practical all for -- security -- Here -- there's a lot of things to consider you know tax increases.

You know health care situation and -- a lot of variables that come into play.

And their planning for worst case scenarios you know if they've got allocate more money to paying taxes what's gonna take away from the jobs at their higher.

Plus of the uncertainty because you know that they're talking about content with the sequestration thing -- could be tens of thousands of layoffs and so -- company's plan.

They get a plan forward do we need to hire more people in what if we do then we're going to be stuff like Alex Thomas has is that person that you need personally you want.

That a lot of other I love this mistake in your -- what an exciting month for you guys you've -- are expecting a baby at the end of this month you believe -- -- it's been a long journey for you guys are you feeling.

We have had a -- -- like he said and we are excited so were.

About thirty days away and got a little sun coming in definitely gearing up getting all of the proper equipment that we need and taking out classes on parenting things that a Seattle -- yet we're working on now working on that and he's gonna be working at a young age like I was actually you do have some financial tips for parents or watcher right now -- help.

They're kids.

You know get -- concept of what money is because kids just don't when mom and dad does it not go I'll take the best advice my dad -- -- he always used to say it's not how much you make.

It's how much you say burn unit and I think that's that's so true we just what you dad's words -- -- -- huh huh huh.

-- this quickly anticipated.

I have a this don't try to keep up with the Jones's play your own game we need.

Yeah I mean some you know when you're when you're little you always want what the kid next door hasn't and it transfers -- adults your neighbor has this fancy car.

A lot of us try to keep up with the people extorted he just got to play your own gaming got to set your own goals and and you got to revisit your goals on a regular basis my wife and I sit down and and we review our financial goals often.

And -- say check your ego at the door what does that mean for kids well let -- I think you know it's on the that you will transfer over as an adult you know don't try to do everything and I'm not a money manager but I found someone I trust that is very good at what he does.

And he handles a lot of my investments in managing their money and I think that's that's what you have to do so many people.

And entrepreneurs especially they think they can do -- all -- do you think Donald Trump we'll take -- eagle at the door.

You know he's -- Smart guy you guys had Donald on all the time and he surrounds himself with great people.

Rather -- he is tremendous self confidence you picked up he he does anorexic figure much for -- us that.

Good luck with those restaurants in Chicago this -- -- by we're expecting for counter what yes and --

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