The Book on (and of) Newsom; A Bedeviled City of Angels | Hoover Institution

Quick Overview

California Governor Gavin Newsom faces scrutiny over the state's poor economic conditions, including job losses, high energy costs, and the mounting deficits of the High-Speed Rail project, contrasting sharply with his national book tour promoting his memoir "Young Man in a Hurry" and national presidential aspirations. Meanwhile, Los Angeles contends with political turmoil, including a mayoral race plot twist and the resignation call for the LA 2028 Olympics chief due to Epstein scandal ties, further complicating the state's image.

Key Points: Governor Newsom is promoting his memoir, "Young Man in a Hurry," while California faces a loss of over 100,000 private sector jobs between late 2022 and mid-2024, high electricity prices, and the highest gasoline prices in the country. Newsom's handling of wealth taxes is complicated by pressure from the progressive wing of the Democratic party, exemplified by Bernie Sanders and AOC, while billionaires like Peter Teal are moving residency out of state. California's gasoline dependency is severe, with the state importing about 64% of its oil needs in 2024, up from 6% in 1982, creating a national security risk due to reliance on foreign sources for the specialized low-carbon blend. The High-Speed Rail (HSR) project remains problematic, with costs escalating to potentially $135 billion for the total system, and the Bakersfield to Merced segment estimated to cost $35 billion and potentially not open until 2035, despite Newsom's 2019 commitment to freeze further expansion until funding was stable. The state budget has seen a 72% increase under Newsom, from Jerry Brown's last budget of $202 billion to Newsom's proposed $348 billion, which experts suggest is fiscally unsustainable, especially given ongoing deficits. The average state worker compensation package, including benefits, is estimated to be around $190,000 when adjusted for inflation since 2019, contributing to massive unfunded pension liabilities that Newsom has not addressed. Los Angeles Mayor Karen Bass faces calls for LA 2028 Olympics chief Casey Wasserman to resign over alleged ties to Jeffrey Epstein via emails with Ghislaine Maxwell, and Bass herself faces scrutiny over handling the Palisades fire damage control and losing text messages.