California is facing a $12 billion budget deficit, so of course, Gov. Gavin Newsom blames Trump. From The Hill newspaper,
California Gov. Gavin Newsom (D) announced a $12 billion deficit Wednesday in the May revision of his state budget proposal, casting blame on the Trump administration for creating an unpredictable economic environment.
It’s been my experience, which dates back as far as the previous century, that life itself is unpredictable. The Hill digs deeper,
“California is under assault,” [Newsom] continued. “The United States of America, in many respects, is under assault because we have a president that’s been reckless.”
Although the revamped budget “does not forecast a traditional recession,” the document reflects “changing national conditions” that economists characterize as a “growth recession,” or a substantial slowdown in gross domestic product growth, per the proposal.
Not a traditional recession, call it a “growth recession.” They really are counting on you being grotesquely stupid.
“Blame it on Trump” is just shorthand for projecting one’s failures outward. It serves the same rhetorical purpose as the phrase, “It’s just the war, and that lying son of a bitch Johnson,” did in Forrest Gump (1994).
Would it be mean of me to point out that the Federal government posted a rare budget surplus last month?
Perhaps California should consider investing in the stock market, which was up (S&P 500 index) again today. The index closed a fraction above the level it finished at yesterday.
According to data maintained by The Wall Street Journal, today’s close is the highest since February 28. As I noted yesterday, the market is up for the year to date and up even higher than the level on Election Day 2024.
Rasmussen holding steady…
