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Gavin Newsom: “This wrecking ball presidency is jaw dropping in real time.”

Featuring: Gavin Newsom, Democratic | Governor of California

California Governor Gavin Newsom | Bloomberg Newsmaker Event

Published January 30, 2026 | Video Starts at 24:07

And they did it in real time, building on what they did in South America with the eu. I mean, This wrecking ball presidency is jaw dropping in real time. So it goes to your question about what Carney said about that rupture. It's real truth trust. (24:07–24:12)

CLAIM

Asserts that Trump's presidency is causing significant disruption.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Gavin Newsom

“We had 700 active duty Marines that were not sent overseas to protect our interests, were sent to seize control of [Los Angeles].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 00:50-00:59
“Close to 5,000 federalized troops [were] on the streets of an American city last June.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 01:01-01:09
“California stopped $135 billion of fraud just at the EDD department.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 08:55-08:58
“We have the fourth largest economy in the world, not the sixth.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:12-12:16
“While we had the largest tax rebate in US history at a state level 18.1 billion, almost 18.3 depending on how you categorize it.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 15:19-15:29
“Since 1874, we've installed about 105 gigawatts of electricity in the state. 30.2 Since I've been governor.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 16:07-16:19
“10% of people own 2/3 of the wealth in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 31:47-31:51
“We had 4,000 National Guard that were federalized [in June of last year].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 00:43-00:51
“These are the border patrol tactical units to Dodger Stadium, assembled there in order to chill free expression and free speech for diverse…”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 02:29-02:39
“Tom Homan, who was accused of a $50,000 bribe where charges disappeared.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 02:55-03:03
“He [Trump] refuses to meaningfully address the issue for recovery.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 03:33-21:37
“Pam Bondi said, we'll leave, but we want your voting rolls.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 03:45-03:49
“The last election, 2020, was rigged.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 04:03-04:06
“People are dying in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 04:54-04:58
“California prosecuted 929 individuals, clawed back almost $6 billion [in fraud cases].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 08:58-09:09
“California became the first [state] to pay by touch with EBT cards, saw an 83% decline in fraud last year.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 09:15-09:25
“We have more Fortune 500 companies than we did since 2019... Now it's 58.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:15-12:22
“California dominates $405.6 billion output, 13.9% of the nation's manufacturing.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:22-12:27
“$62.1 billion just as it relates to agriculture.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 12:29-12:32
“Venture capital, highest it's ever been. $106 billion. 68 billion last year. 106 this year.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 13:18-13:27
“California has a 0.9 to 1.2% higher unemployment rate consistently... Today it's 1.1% higher.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 13:32-13:56
“Now we have our first economic and workforce development plan in our state's history around regions rising together.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 14:09-14:16
“That's why we did the biggest expansion of any state in the United States history on child care subsidies.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 14:49-14:54
“That's why we have the most progressive rent controls of any state in America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 15:32-15:38
“One of the largest installed battery and solar farms in the world Darden in Fresno county was just approved 2,300 megawatts.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 16:22-16:30
“We tie executive compensation to performance on, on safety.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 17:30-17:35
“We also have the clawback in that, which I remind people of a receivership where the state can actually assert control statutorily.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 18:57-19:08
“There's been 2,981 permits that have been approved so far as of this week.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 20:20-20:26
“The state is asking on behalf of the American people that happen to reside in Southern California [for] $33.9 billion.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 21:37-22:02
“The cost of construction, which has gone up because of his [Trump's] tariffs and his mass deportations.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 21:39-21:45
“India just made a deal with the EU on tariffs. 20 years they've been talking about it.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 23:44-23:50
“Our economy was the enemy of the world. We continue from a global perspective, the share of GDP continue to outperform.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 25:05-25:12
“Representing the fourth largest economy in the world.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 25:58-26:01
“The federal government. But he'll Trump be known in years. He's got a few years left.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 26:11-26:18
“California has the most progressive tax structure in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 29:28-29:32
“We have the highest progressive tax rate in the United States of America.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 29:37-29:42
“The impact of a one time tax does not solve an ongoing structural challenge that has been exacerbated by the impacts of HR1.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 30:22-30:34
“You would have a windfall one time and then over the years you would see a significant reduction in taxes because taxpayers will move.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 30:42-30:55
“30 year olds never done worse 30 year old today than any generation in history.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 31:52-31:59
“We rely on a very small number of people that allows us to do historic things.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 36:47-36:55
“We have a millionaires tax that also funds our Mental Health Services act.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 37:09-37:14
“53 lawsuits wildly successful in that space.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 38:15-38:20
“The west coast offense with governors of other Western states for health care, Reproductive Freedom alliance that we've organized.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 38:26-38:35
“California, as you know, is the first state to lead in terms of doing regulations for frontier models, large language models.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 40:50-40:58
“Kathy Hochul mirrored a lot of what we did [in AI regulation].”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 41:01-41:07
“We've been leading an effort which we hope to unveil very shortly on ubc.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 41:37-41:42
“We provided state grants for prosecution, $267 million to 55 LEAs local law enforcement agencies for investigations and prosecutions.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 43:04-43:15
“I signed the first bill in the country on unmasking for federal agencies for federal agents.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 44:01-44:09
“27% of us are foreign born.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 46:59-47:02
“Size of 21 state populations combined.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 47:02-47:06
“Number one in two way trade, number one in direct foreign investment.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 47:15-47:19
“40% of the goods movement down in LA and Long Beach.”
California Governor Gavin Newsom | Bloomberg Newsmaker Event | Uploaded January 30, 2026 | 47:19-47:22