A Time for Choosing in California

By Niyazz @ Shutterstock.com

Californians are headed to the polls today to vote in the state’s jungle primary for governor. All candidates, no matter their party, will be in the race, and the top two vote getters will move on to the general election, assuming no candidate earns a majority of the vote.

The Democratic Party front-runners are billionaire Tom Steyer and former Health and Human Services Secretary Xavier Becerra. The leading Republican is Steve Hilton, a former Fox News host.

Like most things involving California’s government, the race has been expensive. The Wall Street Journal’s Laura J. Nelson and Eliza Collins report that Steyer has been a big spender. They write:

Steyer, a former hedge-fund founder and manager, left his role in 2012 to focus on climate activism and politics. He ran unsuccessfully for president in 2020. As a self-funder who isn’t backed by any corporations, he is “the only one prepared to take them on,” said spokeswoman Danni Wang. Earlier in May, Steyer—wearing a baseball cap that said “class traitor”—said he agreed with antibillionaire sentiment despite being one.

More than $80 million in outside spending has poured into the race, with the most aimed at Steyer. He has spent more than $213 million of his own money, a sum that includes $175 million in TV ads, such as one voiced by actress and activist Jane Fonda.

Becerra, though not personally wealthy like Steyer, has also spent a lot on the race. The New York Times reports:

Mr. Becerra, who emphasized his roots as the son of working class immigrants, did not pour personal wealth into his campaign, but was helped by numerous interest groups that do business at the state Capitol. Oil companies, electric utilities, health care businesses, tech platforms and soda companies were among the donors that collectively put about $54 million into opposing Mr. Steyer and supporting Mr. Becerra.

Hilton has secured the endorsement of President Donald Trump, but faces steep odds against a Democratic candidate supported by a unified party in the runoff. The latest Real Clear Politics average of polls has Becerra ahead by 0.7 points at 23.6% support, Hilton just behind at 22.9%, and Steyer in third with 20.9%.

For Californians, beset with crippling environmental regulations, high taxes, and bloated government, it is a time for choosing.

Previous articleThe Question: To Be Invested or Not to Be
Debbie Young
Debbie, our chief political writer at Richardcyoung.com, is also our chief domestic affairs writer, a contributing writer on Eastern Europe and Paris and Burgundy, France. She has been associate editor of Dick Young’s investment strategy reports for over five decades. Debbie lives in Key West, Florida, and Newport, Rhode Island, and travels extensively in Paris and Burgundy, France, cooking on her AGA Cooker, and practicing yoga. Debbie has completed the 200-hour Krama Yoga teacher training program taught by Master Instructor Ruslan Kleytman. Debbie is a strong supporting member of the NRA.