In just a few years, California went from a $100 billion budget surplus to a $30 billion structural deficit. How does the world’s fourth-largest economy wipe out that much cash so quickly? In this mini-episode State of Gold takes a hard look at CA’s out of control "spending spree" as well as the rampant waste and fraud plaguing Sacramento.

Noted experts break down the "regressive" nature of California’s current path, where middle-class residents are squeezed by electricity and gas prices while state government spending doubles over the past decade. Wipeout reveals the "perverse financial incentives" that allow social problems to grow, and fail, despite record spending.

Chapters
00:00 – The $100 Billion Wipeout: From Surplus to Deficit
00:08 – The Real Math: 60% Revenue Growth vs. 72% Spending Growth
00:16 – Fraud Exported: $30 Billion Sent to Scammers
00:34 – The 2022 Surplus vs. Today’s Structural Deficit
00:52 – Boiling the Frog: Expanding Government Beyond Inflation
01:11 – Twice the Spending, Half the Quality: The 10-Year Decline
01:19 – Misaligned Priorities: School Renaming & Zoom Classrooms
01:31 – Education Failure: Bottom Quintile Results Despite Billions Spent
01:51 – Fraud Everywhere: From Special Districts to Wildfires
02:00 – The Audit Gap: Why Lawmakers Ignore Solutions
02:30 – Siphoning Funds: Interest Groups and Spending Decisions
02:47 – Breaking the Basics: Failing to Deliver on Record Budgets
02:58 – The Tax Loop: Solvency vs. Accountability
03:15 – Next Week: The Existential Threat of the Billionaire Tax

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Guest:

Senator Catherine Blakespear

Guest Bio:

Catherine Blakespear represents the 38th District, covering northern San Diego County and southern Orange County. A lawyer and former journalist for the Los Angeles Times and Associated Press, she transitioned into public service as the Traffic Commissioner for Encinitas before serving eight years in local government, including six years as Mayor. Now in the State Senate, Blakespear chairs the Environmental Quality Committee and the Transportation Subcommittee on LOSSAN Rail Corridor Resiliency. Her legislative focus includes increasing housing affordability, preventing gun violence, and finding structural solutions to California’s homelessness humanitarian crisis.

Show Summary

It costs an average of $700,000 and takes seven years to build a single unit of housing in California—a reality Senator Catherine Blakespear calls "anathema to my sense of humanity". In this episode of State of Gold, Jon Slavet and Senator Blakespear tackle the "multi-billion dollar question" of why California’s housing and homelessness crises continue to spiral despite hundreds of new laws.Blakespear shares her unique perspective as a former Mayor who once fought against high-density mandates, explaining why she now believes the state must balance local control with the urgent need for a million new homes. The conversation takes a sharp turn into the "shocking" reality of the state's homelessness response. Blakespear reveals her firsthand findings after touring Care Court, describing it as a "resource-intensive group therapy" that fails to scale because it remains entirely voluntary.

In a rare moment of candor from the Democratic side, Blakespear argues it is time to move the "pendulum" back toward involuntary commitment for the gravely disabled, stating that leaving people to die in the elements is a violation of human rights. From the complexities of the insurance market and the Cap-and-Invest program to a debate over Gavin Newsom’s leadership, this episode is an essential look at the policies required to reclaim the "Golden State."

Chapters

00:00 – The Waiting Room: California’s Housing Math Problem
01:12 – From Mayor to Senator: The Battle Over High-Density Housing
02:43 – Public vs. Private: Solving the Million-Home Shortage
03:41 – Local Control: Why Some Cities Fight State Mandates
06:19 – Developers, Density, and the Insurance Crisis
08:28 – The "Stab in the Heart": Addressing the Humanity of Homelessness
09:06 – Functional Zero: Why "Permanent Housing Only" is Failing
11:24 – The Case for Involuntary Commitment: Moving the Pendulum
13:53 – Exposing Care Court: Why Voluntary Care Isn't Scaling
16:48 – Cap and Invest: Climate Goals vs. Affordability
19:43 – The Billionaire Tax and the Innovation Economy
21:49 – Assessing Gavin Newsom: Practicality vs. Policy

Connect with Catherine Blakespear

• Facebook: https://www.facebook.com/senatorblakespear/about/
• Twitter: https://x.com/Cblakespear
• Instagram: https

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California is at a tipping point. With over two-thirds of residents believing the state is on the "wrong track," the race for the Governor’s mansion has turned into a high-stakes battle for the future of the Golden State. In this special episode, recorded live from the April 2026 CA GOP Convention, Jon Slavet sits down with the state’s brightest Republican political minds to break down the chaos of the primary season and the path to a Republican victory.

The conversation centers on the "insanity" of current leadership and the rise of optimistic conservative voices like Steve Hilton. The panel dives into the sudden "implosion" of Democratic frontrunner Eric Swalwell and the reshuffling of the voter pool that follows. They also pull back the curtain on the "math problem" facing Republicans: Can they successfully navigate a top-two primary to shut out the Democrats, or will a splintered field leave the GOP on the sidelines?

From "kitchen table issues" like the affordability crisis and public safety to the influence of national endorsements, this episode provides a strategic roadmap for how a Republican can win over independents and center-right Democrats in a state where they are outnumbered 2-to-1. It is a candid look at the policies, personalities, and "political earthquakes" that will define California’s next chapter.

Chapters

00:00 – Live from the GOP Convention: Is it Darkest Before the Dawn?
01:33 – The "Wrong Track" Majority and the Search for a Plan
02:44 – The Hilton Strategy: Positioning Beyond the MAGA Tag
03:18 – Nationalizing the Race: How Democrats Avoid Owning Their Record
04:42 – Crossing the Chasm: Appealing to Independents Post-June 2nd
06:57 – The Swalwell Implosion: Allegations of Mortgage and Election Fraud
09:33 – Kitchen Table Wins: Prioritizing People Over Partisanship
12:01 – Hilton vs. Bianco: The Power of the Ballot Designation
13:19 – The Primary Math Problem: Avoiding a Democratic Shutout
15:20 – Tom Steyer and the $500 Million "Ego Trip"

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Guest

Jodie Muller, CEO - Western States Petroleum Association

Guest Bio

Jodie Muller serves as the President and CEO of the Western States Petroleum Association (WSPA), representing the companies that explore, produce, refine, and transport petroleum products in the West. Muller took the helm as CEO during one of the most volatile periods for energy in California’s history. Under her leadership, WSPA has focused on educating policymakers and the public on the "all-of-the-above" energy strategy, advocating for the preservation of high-paying local jobs, and addressing the regulatory "layers" that contribute to California's nation-leading gas prices. Muller is a prominent voice for balancing environmental goals with economic reality, emphasizing the importance of domestic production to maintain strict environmental and labor standards.

Show Summary

Why does California consistently have the highest gas prices in the nation? According to WSPA CEO Jodie Muller, it isn’t one person or one event—it’s the result of decades of policies layered on top of one another.

In this episode, Jon Slavet talks with Muller about the complex reality of California’s energy market. From the impact of the Iran war and global spot markets to the "Truman Show" bubble of California’s environmental regulations, Muller explains how the state has hamstrung its own supply chain. She shares startling data on why California now imports over 75% of its crude and what the idling of major refineries means for the families who rely on those six-figure jobs.

The conversation also tackles the controversial Cap-and-Invest program, the "baby steps" of recent permitting in Kern County, and why the smartest energy innovations of the future will likely come from within the oil and gas industry. Muller offers a candid look at the upcoming Governor’s race and her "Queen for a Day" wish.

Chapters

00:00 – Who is Responsible for $6 Gas?
01:18 – Decades of Layered Policies: Connecting the Dots
02:45 – The Education Gap in Sacramento
03:16 – Iran and the Global Energy Market: Why Prices Stay High
07:12 – The Environmental Irony of Importing 75% of Our Oil
09:34 – From 25 Refineries to 6: The Impact on Consumers
11:11 – Six-Figure Jobs and the Economic Knock-on Effects
12:59 – Cap and Invest: The Multi-Billion Dollar Business Calculus
15:53 – Newsom, Kern County, and the Future of Permitting
17:59 – Advancing Renewables: An All-of-the-Above Strategy
20:06 – Evaluating the Governor’s Race and Tom Steyer
22:27 – Rapid Fire: Pausing Regulations and Keeping Kids in California

Connect with Jodie Muller

• LinkedIn: https://www.linkedin.com/in/jodiemuller/
• Twitter: https://x.com/WSPAPrez/with_replies

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Guest:

Alex Villanueva, Former Sheriff of Los Angeles County

Guest Bio:

Alex Villanueva served as the 33rd Sheriff of Los Angeles County from 2018 to 2022, making history as the first challenger to unseat an incumbent sheriff in over a century. A veteran of the United States Air Force and the California Air National Guard, Villanueva spent over three decades within the LASD before reaching its highest office. During his tenure, he was known for his fiercely independent and often combative relationship with the LA County Board of Supervisors, frequently clashing over department funding, deputy oversight, and homelessness protocols. A former lifelong Democrat who recently broke with the party to register as a Republican, Villanueva continues to be a prominent voice in California politics, advocating for stricter public safety measures, voter ID laws, and a rejection of what he terms "radical" progressive ideologies.

Show Summary

Is California facing the "beginning of the end"? In this episode, Jon Slavet sits down with former LA County Sheriff Alex Villanueva for an unfiltered look at the systemic failures plaguing the Golden State.

Villanueva pulls no punches as he describes what he calls a "multi-year war against law enforcement" and the emergence of a "homeless industrial complex" that he claims has a perverse financial incentive to grow the crisis rather than solve it. He shares first-hand accounts of cleaning up notorious encampments in Venice and Brentwood and explains why he believes the current political apparatus is more interested in "virtue signaling" than public safety.

The conversation dives deep into Villanueva’s personal political evolution—from a JFK Democrat to a Republican—and his critiques of career politicians who he says prioritize their own advancement over the public interest. From the complexities of ICE cooperation and sanctuary status to a rapid-fire session on the future of California leadership, this episode offers a candid perspective from a man who has spent his career on the front lines of California's most contentious battles.

Chapters
00:00 – The "Beginning of the End" for the Golden State

00:40 – The Multi-Year War Against Law Enforcement

01:38 – Cleaning Up Venice: A Proven Five-Step Process

02:57 – Exposing the Homeless Industrial Complex

04:02 – Career Politicians vs. The "Part-Time" Solution

05:14 – Lessons Learned: Betrayal and Bureaucratic Interests

06:16 – Why the Democratic Party Left Me

07:45 – Public Safety Transcends Party Lines

09:34 – The Truth About ICE and Sanctuary State Policies

13:07 – Local Coordination and Board Politics

13:40 – Rapid Fire: Voter ID and Reclaiming the Promise

Connect with Alex Villanueva

• Instagram: https://www.instagram.com/sheriffvillanueva33/
• Twitter/X: https://x.com/AlexVilanueva33
• Website: https://alexvillanueva2026.com/

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Guest

Debora Allen, Former Member of the BART (Bay Area Rapid Transit) Board

Guest Bio

Debora Allen served as a member of the BART Board of Directors from 2016 to 2024. A CPA with over 30 years of experience in the private sector, she positioned herself as a fiscal hawk on the board, frequently advocating for increased transparency, "station hardening" to prevent fare evasion, and prioritized spending on rider safety and police presence. Allen was a vocal proponent of creating the Office of the BART Inspector General and served as the inaugural chair of the Standing BART Audit Committee. Known for her independent and often dissenting voice against the board's more progressive majority, she chose not to seek re-election in 2024, concluding eight years of service focused on stabilizing the agency’s "fiscal cliff" and improving the commuting experience for suburban taxpayers.

Show Summary

BART is facing a fiscal cliff — and according to former board member Debora Allen, it didn’t happen by accident.

In this episode of State of Gold, Jon Slavet sits down with Allen to pull back the curtain on what she saw during her eight years on the BART Board. From declining ridership and fare evasion to rising costs and budget shortfalls, Allen explains how a lack of accountability and misaligned priorities have put one of California’s most important transit systems at risk.

She shares why she pushed for stronger financial oversight, the creation of an Inspector General, and increased focus on rider safety — including police presence and station hardening. The conversation also explores how political dynamics inside the board shaped decision-making, why dissenting voices were often sidelined, and what she believes needs to change to restore both financial stability and public trust.

This is a candid look at how governance, spending, and leadership decisions impact everyday commuters — and what it will take to fix a system that millions rely on.

Chapters

00:00 – The Reality Inside BART

01:10 – Debora Allen’s Background and Time on the Board

03:25 – BART’s Fiscal Cliff Explained

06:40 – Declining Ridership and Revenue Challenges

09:15 – Fare Evasion and Station Safety

12:10 – Why “Station Hardening” Matters

14:45 – Creating the Inspector General

17:20 – Internal Board Dynamics and Decision-Making

20:05 – What Needs to Change

22:00 – Rapid Fire: Fixing BART and California

Connect with Debora Allen

• Twitter: https://x.com/debora_allen1
• LinkedIn: https://www.linkedin.com/in/debora-allen-bart-director

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Guest:

Jessica Patterson, Former California GOP Chair

Guest Bio:

Jessica Patterson is the former Chair of the California Republican Party and a longtime political strategist focused on voter registration, grassroots organizing, and rebuilding Republican strength across the state. During her six years as chair, California Republicans added more than a million new registered voters and expanded outreach into communities long ignored by the party.

Show Summary

What would it actually take for Republicans to win again in California? In this episode of State of Gold, Jon Slavet sits down with former California GOP Chair Jessica Patterson to talk about how the party can reposition itself, why showing up in neglected communities matters, and what it will take to connect with voters beyond the traditional Republican base.

Patterson reflects on the registration gains made during her time leading the party, the importance of strong local messengers, and why issues like gas prices, housing, and education continue to give Republicans an opening in California. She also explains why she believes the GOP already has the right ideas, but must continue doing a better job of meeting voters where they are.

The conversation also dives into some of the state’s most pressing policy failures, from high gas prices and energy dependence to CEQA, housing affordability, school choice, and Sacramento’s spending priorities. They close with a look at the billionaire tax, why it could hurt everyday Californians, and what Patterson would do first to help turn the state around.

Chapters
00:00 – Jessica Patterson Joins State of Gold

00:03 – How Republicans Can Start Winning Again in California

03:19 – Can Republicans Win in the Trump Era?

05:40 – California Energy, Gas Prices & What Newsom Should Do

09:39 – The 2026 Governor’s Race and the Top Two Dynamic

13:57 – The $114 Million Wildlife Bridge

16:29 – The Billionaire Tax and How It Hurts Average Californians

18:16 – Rapid Fire: How to Fix California

19:04 – School Choice and the Future of Education

19:36 – What Gives Jessica Patterson Hope

20:01 – California Is Worth Saving

Connect with Jessica Patterson

• Instagram: https://www.instagram.com/cagopchairwoman/
• Facebook: https://www.facebook.com/CAGOPchairwoman/
• Twitter: https://x.com/millanpatterson
• LinkedIn: https://www.linkedin.com/in/millanpatterson

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Guest:

Patrick Wolff, Candidate for CA State Insurance Commissioner

Guest Bio:

Patrick Wolff is a chess grandmaster, entrepreneur, and Democratic candidate for California Insurance Commissioner. He is focused on restoring functionality to California’s broken homeowners insurance market, increasing wildfire mitigation efforts, and reforming how the Department of Insurance regulates insurers operating in the state.

Show Summary

California’s wildfire insurance crisis didn’t begin with the Palisades and Altadena fires. It began years earlier, when rising wildfire risk collided with rigid regulation and a shrinking insurance market.

In this episode of State of Gold, Jon Slavet sits down with chess grandmaster and CA State Insurance Commissioner candidate Patrick Wolff to unpack what went wrong — and what needs to change. Wolff explains how, after the catastrophic 2017 and 2018 fires, insurers sought to adjust pricing to reflect increased risk but were blocked from doing so. As risk rose and pricing flexibility remained constrained, insurers pulled back. State Farm expanded aggressively, only to later non-renew policies and seek emergency rate hikes, leaving homeowners trapped in a fragile and under-competitive market.

The conversation goes deeper than rates and policies. Wolff discusses the need for more aggressive forest management and controlled burns, how well-functioning insurance markets provide critical risk signals, and why regulators should focus on consumer protection and competition rather than dictating prices.

It’s a candid discussion about accountability and leadership, and whether California can rebuild both its insurance market and public trust.

Chapters

00:01 – A Chess Grandmaster Enters the Insurance Debate
00:27 – Was the Fire Crisis Man-Made?
02:59 – Controlled Burns & Fire Risk Management
05:59 – How California’s Insurance Market Broke
09:55 – Why Regulators Blocked Risk-Based Pricing
12:17 – What Fair & Competitive Pricing Should Look Like
15:15 – Fire Hardening Homes: What Works & What It Costs
17:18 – Why Home Hardening Is a Public Good
19:06 – Day One as Insurance Commissioner
19:47 – Leaders He Respects
20:51 – What Gives Him Hope About California

Connect with Patrick Wolff

• Website: https://patrickwolff.com/events
• Instagram: https://www.instagram.com/wolffonyourside/
• LinkedIn: https://www.linkedin.com/in/patrick-wolff-222192/

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