After Years of Abuse and Wasteful Spending, California is in a Financial Crisis, Yet Governor Newsom Is Preparing for a Presidential Run

California is in a financial mess.  Years of abuse, mismanagement and wasteful spending have finally caught up.  Democrat Governor Newsom believes this qualifies him for President. 

This past week, California Governor Gavin Newsom was in South Carolina preparing for a run for President in 2028.  If Newsom, who was once related to Nancy Pelosi, were to reach the White House, this country would be over and done.

Here is Newsom at an event in South Carolina:

Gavin Newsom has worked harder in South Carolina than he has his entire term for California.

California is hemorrhaging, and this is what their greaseball governor chooses to do with his time. pic.twitter.com/JSyhIQp7p2

— Patriot Lady (@angelwoman501) July 10, 2025

While Newsom is in South Carolina, California is falling apart.  Retired public employees are calling for an investigation into the state’s public pension investment and management practices.

In a landmark move to finance a forensic investigation of CalPERS investment and management practices, the Retired Public Employees’ Association of California launched a crowdfunding effort into the nation’s largest public employee retirement system.

“For too long, questionable investment decisions and excessive management fees have raised red flags without sufficient accountability,” stated RPEA President Margaret Brown. “This is a necessary action exposing possible wrongdoing, encouraging reform, and protecting our retirement benefits from irresponsible actions,” Brown said.

CalPERS has a market value of over a half a trillion dollars and is the country’s largest public pension fund.  Concerned retirees claim the fund needs to be investigated.

While the state’s public pension fund is suspect, Californians are having a difficult time paying their bills.  This doesn’t matter to Newsom and those running the state.  They have initiated an annual increase in gas taxes starting this year of 50 cents a gallon which increases by 50 cents every year thereafter.  Some say California is in a Doom Loop.

The State of California is in a Doom Loop.  Now the data shows the people of California are headed in that direction—while Newsom is raising gas taxes on July 1—and next year will add 50 cents to the cost of a gallon of gas—and another 50 cents EVERY year thereafter!

“If there’s a must-watch number out there to gauge the financial pulse of the consumer, it’s the New York Fed’s quarterly tracking of who’s paying their bills on time. These figures are compiled from an analysis of credit histories from Equifax. So, we’re talking about bill-paying patterns of folks with credit profiles.

Caveat noted, we see that Californians had 1.27% of their balances marked late by 90 days or more. That’s the highest delinquency rate since 2021’s fourth quarter, when the economy was digesting both pandemic business shutdowns and a flood of stimulus dollars. And late payers are also up from 0.96% at 2023’s start.

Many people in South Carolina don’t want the country to end up like California under Newsom’s destructive leadership.

While @GavinNewsom is in South Carolina today, maybe he should ask its @GOP governor, @HenryMcMaster why South Carolina’s gas prices are less than half as much as they are here. Gavin could learn something to benefit Californians rather than lecturing Americans 3,000 miles away. pic.twitter.com/35F0pzrGla

— California Republican Party (@CAGOP) July 8, 2025

Newsom can stay in California.  America doesn’t want him. 

The post After Years of Abuse and Wasteful Spending, California is in a Financial Crisis, Yet Governor Newsom Is Preparing for a Presidential Run first appeared on Joe Hoft.

The post After Years of Abuse and Wasteful Spending, California is in a Financial Crisis, Yet Governor Newsom Is Preparing for a Presidential Run appeared first on The Gateway Pundit.