By Stephen Frank, California Political News and Views
Guv Newsom announced in the Sacramento Bee in early October that his next budget will be based on California being in a recession. Not, the nation, just California. The 2020 elections could see a total of over $200 billion (not a typo) in new taxes and bonds. That would be enough to kill off the economy. On January 1, 2020 AB 5 goes into effect, killing up to 80,000 trucker jobs, hundreds of thousands of ride share jobs, and tens of thousands of other jobs. The California recession is not a murder—it is a suicide.
“Is California heading for a recession? According to the latest data from the Bureau of Labor Statistics, there were fewer people working in October 2019 than in October 2018.
In contrast to the rest of the country, economic expansion has stalled in California, and recession may be on the way. Nationwide, non-farm employment has grown by more than 2.2 million workers. If California’s economy had followed the national trend, we would have added 300,000 new workers to state payrolls over the last year.
Why is California an economic outlier? It is because of economic policies that depress living standards. After decades of some awful policies, the chickens have come home to roost. And despite continued deterioration of quality of life for most Californians, state and local lawmakers are pushing full steam ahead with more policies that depress freedom of choice and economic opportunity.”
If the recession hits hard enough before the November elections, the GOP might be able to take advantage of it and win a few elections. Add to this the Governor limiting water and energy to the people of the State. California is begging for a recession.
Stephen Frank: Is the the publisher and editor of the California Political News and Views. Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/