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The economic secret Gavin Newsom doesn’t want you to know

Gavin Newsom likes to talk about how California keeps getting richer, as he campaigns around the country.

What he doesn’t want you to know is that Californians are poorer than other Americans, in terms of disposable income.

A recent Pacific Research Institute (PRI) study notes that Californians look like they are earning more because the median household income is 20% above the national average.

At the same time, the study notes, Californians have 35% less disposal income than the rest of the country because of the cost of household essentials.

Dr. Wayne Winegarden, a co-author of the study, says: “The data shows that California’s economic challenges are no longer theoretical — they are measurable and worsening.”

On “affordability,” the hottest topic in America, Californians are getting creamed.

While Newsom talks about a California “miracle,” and how the state is now the fourth-biggest economy in the world, the fact is that there is significant outflow of residents to other states because of California’s excessive cost of living.

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