During a recent speech at the World Economic Forum in Davos, Treasury Secretary Scott Bessent aimed sharp criticism at California Governor Gavin Newsom. Bessent labeled Newsom as “too economically illiterate to know anything,” a stark indictment of the governor as he considers a run for president in 2028. Using pointed humor, Bessent described Newsom’s image, likening him to “Patrick Bateman meets Sparkle Beach Ken,” suggesting a superficiality that betrays any real understanding of economic matters.
The backdrop of Davos provides an ironic stage for Newsom, who, according to Bessent, has prioritized lavish meals over addressing California’s urgent issues. “He was having $1,000-a-night meals at the French Laundry,” Bessent noted, juxtaposing this extravagance with the struggles faced by everyday Californians. “My message to Gov. Newsom is that the Trump administration is coming to California,” he emphasized, signaling an impending effort to tackle what he called “waste, fraud, and abuse.”
Bessent did not shy away from detailing the failures he attributes to Newsom’s leadership: massive outward migration from California, a significant budget deficit, and the largest homeless population in the country. “While his California citizens are still homeless, he is here hobnobbing with the global elite,” Bessent stated. Such comments reflect a clear disapproval of what he sees as Newsom’s misplaced priorities. “Shame on him,” Bessent concluded, further illustrating his disdain for the governor’s “smug” and “self-absorbed” demeanor.
Shifting focus, Bessent addressed concerns regarding European investors selling off U.S. Treasury bonds. He dismissed these worries, asserting that “Denmark’s investment in U.S. Treasury bonds is irrelevant”—a mere fraction of less than $100 million. This dismissal extended to critiques aimed at the media, which he accused of spinning narratives from isolated financial analyses into broader fears. Instead, Bessent painted a picture of strength, pointing to “record foreign investment” in U.S. securities.
In an unexpected turn, Bessent discussed geopolitical ambitions, advocating for the acquisition of Greenland. He insisted that “Greenland needs to be part of the United States,” underscoring a commitment to national security that he perceives as critical. Addressing shared military responsibilities, he remarked on the British turning over Diego Garcia to Mauritius, hinting at a perceived betrayal in longstanding partnerships.
Bessent’s remarks in Davos blend humor with serious critique, offering a window into the tension between state and federal governance. His comments on Newsom resonate amid California’s ongoing struggles, painting the governor as out of touch. By framing Newsom’s lavish lifestyle against the backdrop of a state in crisis, Bessent underscores a key narrative: leadership is about accountability, especially in difficult times. The stark contrast he presents reflects a broader sentiment about the nature of public service and the commitment needed to address pressing societal challenges.
"*" indicates required fields
