Newsom: Trump ‘Knows He’s Gonna Get Shellacked’ | How to Fix It

Newsom argues that the Trump administration's foreign policy, particularly concerning Iran, lacked a clear endgame, leading to 'malpractice' and severe global economic consequences. He cites rising fuel and fertilizer costs impacting farmers and working families, and illegal tariffs that dampened the economy, contributing to 'stagflation mood music.'

Newsom mentions $6/gallon gas in California, higher diesel prices, and the impact of tariffs on the economy, including 92,000 jobs lost and no net new private sector jobs in six months. He also notes Trump's 'surprise' regarding the Strait of Hormuz and Iranian reactions.

Newsom presents California as a 'laboratory of democracy' with a successful 'growth and inclusion' formula. He highlights the state's economic power (fourth largest globally) combined with progressive worker-centered policies and investments in future industries.

California has a $25 minimum wage for healthcare workers, $20 for fast food workers, and $16 for others. It expanded paid sick and family leave, doubled earned income tax credit, created a child tax credit, and offers college savings accounts. The state is a leader in quantum AI, autonomy, robotics, and fusion, contributing 18% of the world's R&D.

Reflecting on his seven years as governor, Newsom identifies 'accommodation' as a past mistake, emphasizing the need for a more 'aggressive' liberalism to cut through bureaucracy and deliver 'outcomes' rather than focusing on 'inputs' or 'process.' This shift was particularly evident in housing and homelessness policies.

Newsom describes breaking through decades of impasse on housing reforms using 'hardball tactics' by attaching infill and zoning reforms to the state budget. For homelessness, California moved from no state plan to demanding accountability from local governments, resulting in a 9% decline in unsheltered homelessness last year.

Newsom supports a national progressive tax policy, including new tax brackets for the 'ultra and uber wealthy,' to address historic wealth and income inequality. He contrasts California's tax structure, which taxes the top 1%, with states like Florida and Texas that disproportionately tax low-wage workers.

He criticizes Trump's $4.7 trillion deficit (debt increase) due to tax cuts for billionaires and corporations. Newsom highlights that 10% of people own two-thirds of the wealth in the U.S., calling this imbalance a 'red flag for a democracy.'

Newsom expresses alarm over media consolidation, specifically citing the FCC's actions under Brendan Carr, which he views as a violation of federal statute and an attempt to create 'state media' akin to authoritarian regimes. He also raises concerns about the political weaponization of federal agencies.

He mentions NextStar's potential 80% market share in households, enabled by Carr waiving the 39% threshold, and Carr's demand for changes in war coverage. Newsom also alludes to the weaponization of ICE and border patrol tactical units during elections.