California's Doom Loop: The Business Exodus and Economic Crisis

In this episode of The Miller Report: Real Clear Journalism, Maggie Miller sits down with investigative journalist Ana Kasparian to unpack her latest report on California’s deepening economic struggles. Once an epicenter of American business, the Golden State is now seeing companies like Tesla, Chevron, and Charles Schwab leave — while others, like Bed Bath & Beyond, refuse to expand there. Rising crime, high taxes, strict regulations, and one of the nation’s most expensive minimum wages are driving businesses out and leaving workers with fewer hours and opportunities.

With unemployment at the highest rate in the nation and California’s unemployment insurance fund facing billions in deficits, the California system is in a “doom loop.” We discuss what’s fueling this crisis, how it compares to other major states, the repercussions of the decisions California leaders have made, and what reforms could help restore the California Dream. Ana's full investigation can be found here.