California’s economic decay is another striking failure for Democrats
Zachary Faria
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California continues to be the epitome of economic mediocrity for the vast majority of its residents, no matter how many times Gov. Gavin Newsom (D-CA) boasts about the state’s gross domestic product.
While the country has thus far dodged a recession, California’s economy continues to sputter along. The Golden State’s unemployment rate has increased in the past year and is now the second-highest of any state. Personal income growth in California grew only 0.7%, a brutal number for a state with an exorbitant cost of living. Nationally, that number grew 5.1%, with Texas growing 6.7% and Florida growing 7.9%.
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And that GDP number that Newsom so arrogantly hangs over the head of other states only grew 1.2% in the first quarter, one of the worst numbers of any state. Texas and Florida tripled that growth number, and North Dakota grew by 10 times that number.
California’s economic woes can only grow worse, with the exodus of residents leading to less tax revenue. As a result, the state is wrestling with budget deficits even with the fifth-highest tax burden of any state. Newsom’s budget made cuts across the board outside of healthcare agencies and public schools, and even he admits that the state’s tax system is “volatile” because of how dependent it is on wealthy residents, who are joining middle-class residents in moving out.
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California won’t change course either. Democrats have a monopoly on power in the state and are obsessed with the state’s image as a progressive model for the country. Reversing anything, from its failing energy policies to its failing economic system, would require admitting that the Democratic Party’s progressive vision is actually an unsustainable nightmare. So California Democrats continue to barrel down the path to destruction as they continue to hallow out the most geographically advantageous state by bleeding residents dry for their reckless spending priorities.
You can add it to the list of California’s failures, a list that is growing year by year with no end in sight. California Democrats are turning the Golden State into a national bottom feeder in category after category, and there is no urgency or plan to reverse the decay.