Posted on 04/26/2025 5:28:09 AM PDT by SeekAndFind
According to preliminary data from the U.S. Bureau of Economic Analysis, California's economy is now the fourth largest in the world, surpassing Japan.
Data from the International Monetary Fund and the U.S. Bureau of Economic Analysis shows California's GDP at $4.1 trillion compared with Japan's $4.02 trillion.
Only the rest of the United States, China and Germany have higher GDPs.
"California isn't just keeping pace with the world -- we're setting the pace. Our economy is thriving because we invest in people, prioritize sustainability, and believe in the power of innovation," California Gov. Gavin Newsom said. "And, while we celebrate this success, we recognize that our progress is threatened by the reckless tariff policies of the current federal administration. California's economy powers the nation, and it must be protected."
California's economy grew 6% in 2024 while the U.S. economic growth as a whole was 5.3%.
China's 2024 economy expanded by 2.6% and Germany's grew 2.9%.
California has 40 million people and accounts for 14% of U.S. 2024 GDP.
Newsom's office said California sends more than $83 billion more to the federal government than it receives in federal funding.
The governor's announcement on the California economy referenced the lawsuit the state filed last week against the Trump administration's tariffs.
The suit said the tariffs are causing economic damage and alleges they are being illegally applied because only Congress has tariff power.
(Excerpt) Read more at msn.com ...
It’s interesting that we have many companies fleeing California, all the refineries are being shut down, and the population is declining, yet economic growth surges ahead.
With all the anti-business policies, unaffordable housing, anti-energy policies, pro-crime policies, pro-homeless policies ($30 billion pissed away), pro-welfare policies, pro-illegal policies, horrible infrastructure investments (crumbling roads everywhere, $7 billion bond issue ten years ago but not a single water project built, $100 billion on a train that isn’t needed), and out of control gangs, you’d think the state would be in decline.
All that corruption and malfeasance makes me question this new report about California being the fourth largest economy in the world.
Wouldn’t be a stretch to fact check newsom and publish the findings...I agree with you, he may be lying.
CA government passed from being in the black to being in the red a couple of years ago. Every day they sink lower in the water, and Joe isn’t president anymore.
So, enjoy the economy.
No.
Calif was never ahead of both Japan and Germany at the same time.
The article upon which this post is based was so inaccurate that Hoover Institute retracted it completely
From the article
UPDATE:
“The Hoover Institution issued an update and correction:
Data included in the article, California’s Businesses Stop Hiring, published on August 7, 2024, was incorrectly identified and interpreted by the author and the original publication has been retracted to avoid any misinformation that can be attributed to the article.”
An updated article, Recent Trends in California’s Job Growth, by the author can be found here.
Tech and biotech are both hyper productive
They don’t require as many employees to achieve high-level economic output
The report is likely true
Yet the democrats have a big deficit and have failed in the basics of repairing the roads, low cost utilities and even having working fire hydrants and still have 2 reservoirs that were empty at the the time of the Jan brush fires are still empty.
California is crazy but they're still part of USA so we're restraining them somewhat. Japan is aging rapidly. Most of their population is now elderly. It ain't 1985.
https://www.hoover.org/research/recent-trends-californias-job-growth
So he says his first numbers and interpretation were wrong. Yet, he provides no new DATA to dispute his original Data.
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