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This is John Batts.

A conversation with my longtime good friend Bill Wayland, the Hoover Institution,

who watches California very closely from Palo Alto, about Governor Newsom, who's understood

as a plan B for the Democratic Party, the presidential candidate in waiting.

Very well prepared. San Francisco, the governor's mansion now, looking for sponsorship from the Getty family and others. He is much

comfortable on Fox News recently debates, appearances, remarks.

And now the question of governance, popular outside of the state,

how's he doing inside the state?

I ask Bill, and I'm surprised to learn,

there's a deficit and why. Here's Bill. How's he doing with

his legislature in Sacramento? Good evening to you. Good evening, John. He is not doing

as well as he would like. The California legislative analyst who studies California's fiscal outlook came out with a report on Thursday, John, and he announced that there is a 68 billion dollar hole in California's finances.

California's budget last summer was $310 billion so you're looking at about a one

and five dollar hole that needs to be filled next year which

means for Gavin Newsom who would like to go around the country showcasing that

...