California Governor Gavin Newsom is facing sharp criticism from U.S. Treasury Secretary Scott Bessent, who delivered a scathing assessment of Newsom’s economic understanding during an address at the World Economic Forum in Davos, Switzerland. Bessent’s remarks are notable not only for their content but also for their biting tone, as he took aim at Newsom’s aspirations for the 2028 presidency.
Bessent did not hold back, labeling Newsom as “too economically illiterate to know anything.” This statement underscores a deep concern about the governor’s grasp of financial issues facing California. It’s not just rhetoric; Bessent’s critique highlights significant problems in California under Newsom’s leadership, including outward migration, a looming budget deficit, and a staggering homelessness crisis. Bessent questioned Newsom’s priorities, contrasting the governor’s lavish lifestyle — dining at exclusive restaurants during lockdowns — with the struggles of Californians experiencing homelessness.
Bessent also positioned Newsom as out of touch with the realities facing everyday Californians. He remarked, “He is here hobnobbing with the global elite while his California citizens are still homeless.” This juxtaposition of Newsom’s presence in an elite context while neglecting urgent state issues reveals a stark disconnect that resonates with many who feel abandoned by their leaders.
In his speech, Bessent introduced a vivid image of Newsom, stating he resembles “Patrick Bateman meets Sparkle Beach Ken.” This metaphor captures the perception of Newsom as both superficial and self-absorbed, shedding light on a critique that combines humor and harsh realism. Bessent did not stop at mocking Newsom’s credibility; he also issued a stern warning: “Shame on him.” The tone here is one of indignation, urging accountability for the significant challenges that Californians are facing.
Bessent continued to address broader issues, dismissing concerns over European investors pulling out of U.S. treasury bonds. He characterized the situation as a non-issue, focusing instead on the supposed record foreign investment in U.S. treasuries, signaling a strong belief in the resilience of the U.S. economy despite contrary media narratives. His mention of Denmark’s investment as “irrelevant” reflects a broader dismissal of what he perceives as alarmist narratives propagated by the media.
He also touched on national security, asserting the importance of incorporating Greenland into the United States and criticizing the U.K.’s potential changes regarding military bases. This part of his address reflects a steadfast commitment to U.S. sovereignty and strategic control, underlining a broader agenda that seeks to strengthen American security independent of foreign influence.
Overall, Bessent’s remarks strike a chord that echoes dissatisfaction and challenge against Newsom, coupling personal attacks with pointed criticisms of his governance. This dual strategy—mocking personal attributes while highlighting systemic failures—serves to rally those disenchanted with leadership that seems distant from practical concerns. Bessent’s speech may very well resonate with Californians and others who value accountability and effectiveness in governance, particularly during times of hardship.
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