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Gavin Newsom: “Half the consumer spending is that top 10%.”

Featuring: Gavin Newsom, Democratic | Governor of California

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How Gavin Newsom Became the Democrats' 2028 Frontrunner | The Ezra Klein Show

Published | Video Starts at 19:46

And we miss that. And with Atrioc, it kept bringing that back. That systemically, for decades, this economy has not been working. 10% of people own two thirds the wealth. Half the consumer spending is that top 10%. This thing, the Meg's, the whole. The stock market is seven damn stocks, maybe ten. But Primarily seven, mostly in California. (19:46–19:49)

CLAIM

Asserts that half of consumer spending is by the top 10%.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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