California Now Expected to Fall to World’s Sixth Largest Economy, While Governor Newsom Remains out of Touch with Reality.
Today, The Sacramento Bee highlighted a recent report saying California’s economy will fall to the sixth largest in the world, trailing behind India. The article points out California’s GDP grew only 2.1% last year, ranking California as 32nd for growth in the United States and below the US average of 2.5%.
But apparently, all is fine and dandy in Newsom’s pocket universe. He has gone as far as to say:
• “California is a remarkable state, on our way to be the fourth largest economy in the world. Eat your heart out, Germany.”
• “California is poised to now become the 4th largest economy in the WORLD.”
• “[California’s economy] has continued to outperform the nation.”
• “This state continues to be the temple of the American economy.”
• “[California had] one of the fastest growing economies anywhere on planet Earth.”
• “[W]e play an outsize role as soon to be the fourth largest economy in the world, closing that gap every day on Germany.”
This is yet more proof of how disconnected Newsom is from reality.
Here are the facts: Capitol Democrats have severely mismanaged California’s economy. While the rest of America is creating jobs, California is losing them. We have the highest unemployment rate in the nation at 5.3%, a $73 billion state budget deficit, and we are losing residents to Texas and Florida in record numbers.
Newsom and Capitol Democrats squandered away a historically large $100 billion surplus two years ago, managed to blow up the state’s deficit, and continue to force businesses to flee the state. It’s time to stop the war on California’s economy by loosening regulations, cutting taxes, and getting Californians back to work!
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