Gutfeld: Rest of California Isn’t as Lucky as ‘Greasy’ Gavin Newsom
Earlier this month, Gavin Newsom proudly tweeted about California’s economic success, highlighting that the state now hosts the most Fortune 500 companies, surpassing Texas and Florida.
He boasted about 57 major companies thriving in the Golden State, but his critics weren’t impressed. This proclamation sparked a heated discussion — or rather, roast of Newsom — on Fox News’ The Five.
Greg Gutfeld's Sharp Critique
Greg Gutfeld likened Newsom to a first-class passenger oblivious to the struggles of those in coach. He pointed out that while Newsom enjoys luxury, many Californians face severe challenges daily.
Gutfeld’s metaphor, along with his coinage of “Greasy Gav,” mostly emphasized the disconnect between the state’s elite and its average residents. (To keep things in perspective, though, Gutfeld isn’t exactly slumming it with a reported $7 million dollar a year salary, according to CelebrityNetWorth.)
Homelessness Crisis
California struggles with a significant homelessness problem. Since Newsom became governor, the number of homeless individuals has continued to rise.
This crisis highlights the stark contrast between the state’s economic successes and its social issues.
High Cost of Living
The high cost of living in California forces many residents to move to more affordable states.
While Fortune 500 companies may be headquartered in California, many employees live elsewhere and work remotely. This raises questions about the true economic benefits for the actual state’s residents.
Business Closures
High operating costs and stringent policies have led to the closure of many small businesses. For instance, Rubio’s, a popular Mexican food chain, closed 48 locations in one day due to California’s $20 minimum wage law.
This example is just one example of the challenges faced by small businesses in the state.
CalCompetes Program Success
Despite the criticisms, the CalCompetes program has been successful in attracting over $50 billion in private investments and creating 159,000 jobs.
Notable companies like Bosch, GoodRx, and Relativity Space have benefited from this program, contributing to California’s economic growth and innovation.
Economic Powerhouse
California is the fifth-largest economy in the world, with a nominal GDP of nearly $3.9 trillion in 2023.
The state is a leader in various sectors, including tech, agriculture, and entertainment. This economic strength is understandably a point of pride for Newsom and a critical aspect of his governance.
Travel Industry Boom
California’s travel spending reached an all-time high of $150.4 billion last year. This rebound post-pandemic signals a strong recovery in the tourism sector.
Newsom highlights this as evidence of the state’s vibrant economy and attractiveness as a travel destination.
Innovation and Venture Capital
The state ranks #1 in new business starts and access to venture capital funding.
This innovation ecosystem supports startups and established companies alike, driving economic growth and maintaining California’s status as a global leader in technology and entrepreneurship.
Social Issues Persist
While celebrating economic achievements, Newsom faces criticism for not addressing pressing social issues.
High drug use among teenagers, the largest number of undocumented immigrants, and significant budget deficits are persistent problems that impact residents’ quality of life.
Gutfeld's Point of View
Gutfeld argues that Newsom’s focus on high-profile successes overlooks the daily struggles of many Californians.
The disparity between the wealthy elite and average citizens is a recurring theme in his critique, highlighting the need for policies that benefit all residents.
Balancing Act for Newsom
Newsom’s challenge is to balance celebrating economic successes with addressing the state’s social issues.
While his achievements in attracting Fortune 500 companies and fostering innovation are notable, addressing homelessness, high living costs, and business closures remains crucial for a comprehensive governance approach, as well as important topics that would factor into a potential run at the presidency.