After Years of Abuse and Wasteful Spending, California is in a Financial Crisis, Yet Governor Newsom Is Preparing for a Presidential Run | Joe Hoft


After Years of Abuse and Wasteful Spending, California is in a Financial Crisis, Yet Governor Newsom Is Preparing for a Presidential Run

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California is in a financial mess.  Years of abuse, mismanagement and wasteful spending have finally caught up.  Democrat Governor Newsom believes this qualifies him for President. 

This past week, California Governor Gavin Newsom was in South Carolina preparing for a run for President in 2028.  If Newsom, who was once related to Nancy Pelosi, were to reach the White House, this country would be over and done.

Here is Newsom at an event in South Carolina:

While Newsom is in South Carolina, California is falling apart.  Retired public employees are calling for an investigation into the state’s public pension investment and management practices.

In a landmark move to finance a forensic investigation of CalPERS investment and management practices, the Retired Public Employees’ Association of California launched a crowdfunding effort into the nation’s largest public employee retirement system.

“For too long, questionable investment decisions and excessive management fees have raised red flags without sufficient accountability,” stated RPEA President Margaret Brown. “This is a necessary action exposing possible wrongdoing, encouraging reform, and protecting our retirement benefits from irresponsible actions,” Brown said.

CalPERS has a market value of over a half a trillion dollars and is the country’s largest public pension fund.  Concerned retirees claim the fund needs to be investigated.

While the state’s public pension fund is suspect, Californians are having a difficult time paying their bills.  This doesn’t matter to Newsom and those running the state.  They have initiated an annual increase in gas taxes starting this year of 50 cents a gallon which increases by 50 cents every year thereafter.  Some say California is in a Doom Loop.

The State of California is in a Doom Loop.  Now the data shows the people of California are headed in that direction—while Newsom is raising gas taxes on July 1—and next year will add 50 cents to the cost of a gallon of gas—and another 50 cents EVERY year thereafter!

“If there’s a must-watch number out there to gauge the financial pulse of the consumer, it’s the New York Fed’s quarterly tracking of who’s paying their bills on time. These figures are compiled from an analysis of credit histories from Equifax. So, we’re talking about bill-paying patterns of folks with credit profiles.

Caveat noted, we see that Californians had 1.27% of their balances marked late by 90 days or more. That’s the highest delinquency rate since 2021’s fourth quarter, when the economy was digesting both pandemic business shutdowns and a flood of stimulus dollars. And late payers are also up from 0.96% at 2023’s start.

Many people in South Carolina don’t want the country to end up like California under Newsom’s destructive leadership.

Newsom can stay in California.  America doesn’t want him. 

14 thoughts on “After Years of Abuse and Wasteful Spending, California is in a Financial Crisis, Yet Governor Newsom Is Preparing for a Presidential Run”

  1. America may not want him but the swamp does. He will fit right in with the rest of the D.C. corrupt, globalist slimeballs. He’s just like them!

    Reply

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  3. California is no accident, what they are doing to it is intentional by design a blueprint of what they want to do to the whole country, all they want is you to forget how awful it is there and vote in california politicians to run the country and turn the whole nation into that very state

    Reply

  4. It’s like Gavin Newsom is saying – “My work is done in California. Now it’s time to take it nation wide.”

    Reply

  6. Everywhere the Democrats have gone, it has turned into a sh…thole. Every State, every county, every city, every brick and mortar school, the party itself, and the presidency while they had it, has all turned int crap. The only thing they have left now to turn into crap, is the entire country, which is their goal.

    No way this yahoo will ever be President of the United States.

    Reply

  7. Does anyone know that Gavin Newsom is one of the Young Global Leaders of the World Economic Forum?

    This man has destroyed California by order of Klaus Schwab and the wicked globalist billionaires. Hell, some of the DAs in each California city was backed by George Soros, including George Gascon.

    Oh, and did I mention a good handful of Democrats down there are possibly Deep State types? Like Nancy Pelosi, Adam Schiff, Maxine Waters, and Eric Swalwell.

    Finally, don’t forget about voting. A MAGA type was running against Schiff last year, and somehow “lost”. And another Republican, Mike Garcia, just “lost” as well.

    So I don’t want to hear a bunch of idiots parroting the same: “You get what you voted for” crap. I would love to find the TikTok video of this one guy who beautifully explains why Democrats have such power in California. It was on an episode of And We Know that came out during the LA riots. But I’ll just make note of one thing he mentioned in the video that goes along the lines of: “Don’t make fun of us. Pray for us.”

    What can I tell you? If Newsom and his kind aren’t stopped, they’ll take over America. And kiss voting goodbye.

    Reply

  9. Great news! He’s the rubric of the Democratic Party today (and has the beautiful smile and hair to go with it). You go, girl! The rest of us couldn’t be happier.

    Reply

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