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In his famous 20th-century novel “The Sun Also Rises,” a friend asked Ernest Hemingway’s character, Mike Campbell, how his financial ruin came about. Campbell answered the question simply: “In two ways. Gradually and then suddenly.”
Just take a quick look at today’s headlines to see that this same idea of ”gradually and then suddenly” is playing out in the fiscal health of many Democratic states. California, the example of a state heading toward financial ruin, is He is set to lose four seats in Congress. in the 2030 census due to population loss.
Additionally, large companies like Wells Fargo and Quantum, with others likely to follow, are moving their headquarters out of the Golden State. to florida. In fact, a national media outlet recently called Miami the “new Silicon Valley.”
Two of the other states with the highest emigration in the country? Illinois and New York. Ken Griffin, the billionaire who runs America’s largest and most successful hedge fund, Citadel Hedge Fund, left Chicago in 2022 and moved his headquarters to Florida. Meanwhile, both Illinois and New York are projected to lose between two and four congressional seats in 2030 due to population loss.
Residents of blue states are fleeing places like California for red states. (Fox News)
So what’s going on here? Well, in short, individuals and businesses are fed up with blue state taxes, unbridled spending, stifling regulations, and draconian environmental policies that stifle innovation and entrepreneurship. They’re moving to red states like Florida and Texas that value capital, markets, free exchange and opportunities. By the way, Florida and Texas are expected to gain four congressional seats in 2030.
Using any measure (GDP growth, job creation, capital investment, employment rates, or the all-knowing U-Haul index of immigrant inflows and outflows), red states litter the top 10 places to move with the occasional purple states of arizona or Nevada breaking into the mix.
Meanwhile, the aforementioned California, Illinois, New York and many other blue states are at the bottom. Americans are simply fed up with bloated governments and nanny states that want to control every aspect of money and life. And those Americans are voting with their feet.
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The left likes to say that warm weather and beaches are the reasons citizens are moving to red states, but that belies the truth. Last time I checked, Utah, Idaho, and Montana had no warm weather or beaches, and yet these states routinely rank in the top 10 of these indices.
What does all this tell us? Well, we’ve seen it coming for some time now. California hasn’t won a congressional seat since 2000. Illinois and New York? The last century. Blue states have seen their economies weaken and their populations slowly shrink since then, but politicians in those states refuse to acknowledge the reasons.
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Now reality is sinking in, and with the loss of electoral votes comes the loss of political influence in Washington DC, not to mention financial ruin.
Mike Campbell probably knew little about electoral politics, but he did know a couple of things about bankruptcyand his recognition that this happened “gradually and then suddenly” is a warning to the United States. Blue states should pay attention.
