Newsomnomics – even worse than Bidenomics
Economic forecasters warned as early as February 2020 that "Biden's program is indistinguishable from Obama's," which was "such a colossal failure. … Biden's program will fail even more catastrophically."
Now, in 2024, Bidenomics has driven America's federal debt to reach a record high of $34 trillion and with an additional $19 trillion added in the next 10 years. The nonpartisan Congressional Budget Office (CBO) stated Biden's federal government ran a $928,000,000,000 deficit in the first seven months of 2023.
The June 2023 Congress/Biden deal allowed the debt ceiling to exceed the $31.47 trillion limit, setting the next debt ceiling catastrophe for January of 2025, just in time for a new administration and congress to have to deal with insane spending. Once the June 2023 deal was made, federal borrowing jumped more than $350 billion in a single day, and in only five weeks borrowing exploded adding an additional $1 trillion to the debt.
Bidenomics has caused the U.S. to become the world leader as the country with the "highest national debt." The CBO says debt will rise to 118% of the entire U.S. economy by 2033 and will be 181% of the entire economy by 2053.
Biden's White House has explained that the problem is not all the insane spending, but rather, the problem is those bad old "Republican tax cuts." So, with more Bidenomics, expect your taxes to increase.
Biden's recent "disastrous" poll numbers have caused talk about a Democrat replacement, like Gov. Gavin Newsom. The governor has been inflicting the Golden State with Newsomnomics since 2004 when he was voted mayor of San Francisco. In December of 2003, then-mayor-elect Newsom stated he planned "to 'aggressively' make ending homelessness in his city his administration's top priority." Newsom's plan involved "a 10-year strategy to end chronic homelessness with 'tens of millions' of federal dollars in funding." Well, we just celebrated the 20-year anniversary of Gavin's 10-year plan, and the only time the streets of San Francisco were cleaned up was during the November 2023 visit of China's President Xi and Joe Biden. Even Newsom stated, "I know folks are saying, 'Oh they're just cleaning up this place because all those fancy leaders are coming to town.' That's true, because it is true." Unfortunately, right after Xi's visit, the city returned to its dirty, decaying state. I guess Gavin just temporarily cleaned things up with the hopes of getting invited back to China, so he could plow over more Chinese children half his size in basketball games. So, who has been getting paid "tens of millions" of dollars in federal money to complete this 10-year solution for the past 20 years? Can you imagine the plans Newsom would make as president?
Look at California's budget in 2023. California has a $68 billion budget shortfall this year. When I told my wife, she asked, "All by themselves?" California ranks last in its budget performance in the nation. Forty-six states "reported their general fund revenue collections exceeded their original estimates." Other states facing a deficit are Maryland ($761 million), Illinois ($891 million) and Minnesota ($2.4 billion), where all these deficits are linked to Democrat-led "reckless, unsustainable spending."
The $68 billion budget deficit is the largest "real dollar" deficit in California's history, and yet, just 18 months ago, the state had nearly a $100 billion surplus. How could this happen? The answer given is: "California's … spending is far outstripping the vast year-over-year increases in tax revenue." Maybe, counter to Bidenomics and Newsomnomics strategies, it is not the tax revenue that is the problem. Maybe, just maybe, it is the insane reckless Democrat-led government spending.
How do you spend these enormous amounts of money? I did find areas of spending where logic seemed absent. For example, look at California's EV bus program. While Connecticut, Philadelphia, Alaska and Minnesota turned away from electric buses due to the myriad of problems, when buses caught fire in California and others simply melted in the sun, the state government doubled-down on stupidity and invested an additional $1.5 billion for 3,000 EV buses. Eight months later the bus company went bankrupt after receiving billions of taxpayer dollars, leaving everyone standing around saying, "We don't know where the money went."
Another interesting way California is spending money is giving free health care to 700,000 illegal immigrants with Gavin making sure California's state health insurance is covering sex-change operations for the illegal.. Let's not look at the $31 billion fraud scandal at the state's unemployment agency during the pandemic.
Newsom has sought to save money by seeking to end capital punishment in California, "citing statistics that California had spent $5 billion since 1978 to execute just 13 people" and falsely claiming it does not deter crime. What happened to the days of public hangings? I think that would be a deterrent. Then he pushed the legalization of marijuana in California, contrasting marijuana to opioids, saying, "Unlike marijuana, opioids represent an addictive and harmful substance." Spoken like a true pothead.
Remember, Newsom originally gained national attention in 2004 by violating state law directing the San Francisco city-county clerk to issue marriage licenses to same-sex couples, with the Supreme Court of California annulling the marriages in August of the same year. Also, the governor plans to bring in revenue to the state by making it a "sanctuary" state for abortion. It is true that Newson is careful not to let just any bill cross his desk, for he has vetoed the bill to reduce penalties for jaywalking.
With cocaine in the White House and marijuana in California, Biden and Newsom have a lot in common. One has led our nation to be the highest in debt and the other has led California to be the highest in debt.
If Bidenomics was like an atomic bomb hitting the U.S. economy, Newsomnomics would be like a nuclear bomb hitting the economy. Maybe Newsomnomics should be called "Nukonomics."
In the 1980s, Ronald Regan labeled Democrats "tax and spend." Well, in 2020, they are "spend and tax."
So, are we ready for the "hair-gel governor" to be president?
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Richard Blakley WND http://www.wnd.com
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