Morning Editorial Report: California Politicians Want Your Nest Egg

The Wall Street Journal

Morning Editorial Report

California Politicians Want Your Nest Egg

By JAMES FREEMAN

California politicians are about to create a new government-backed competitor to private retirement plans. But the state program likely won’t have the usual consumer protections or disclosure requirements. Also, taxpayers could be on the hook for losses. What could possibly go wrong?

Jason Riley lauds Donald Trump for turning down an invitation to address the NAACP. Speaking to the group “isn’t effective black outreach. It’s a setup,” says Mr. Riley. That’s because the NAACP hosts “thinly disguised Democratic political rallies.” To court black voters, Mr. Trump should begin “campaigning in those blighted neighborhoods that he says he wants to improve.”

Our columnist William Galston thinks the key for Mr. Trump is winning over college-educated white voters, who currently favor Hillary Clinton by nine points. Mr. Galston expects that 2016 will be the first year that college-educated white voters outnumber whites without a degree.

The Journal’s Holman Jenkins figures Mr. Trump comes out a winner however the election goes. Either he loses but emerges with a strong brand in conservative media. Or he wins and the “minute he takes office, various Obama regulatory crusades against business come to an end...All this means that an incoming Trump administration, without having to do anything, would likely get a boost from the markets, employment numbers and gross domestic product.”

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