Daily Business Report: Tuesday, November 4, 2025
California pledges $80 million to food banks amid CalFresh delays
By Esmeralda Hernandez | Times of San Diego
California is committing $80 million to food banks across the state, as CalFresh benefits may continue to be delayed.
After more than a month of budget bickering, the government shutdown is quickly approaching the record previously set in 2019. This time, however, food assistance programs are the biggest concern nationwide as more than 40 million Americans are affected.
“The County of San Diego and the State of California are working together to support families through this crisis, and anyone who needs help should call 2-1-1 or visit 211sandiego.org,” said San Diego County Board of Supervisors Chair Terra Lawson-Remer per the County News Center.
SDG&E Layoffs Spark Union Backlash
By MacKenzie Elmer | Voice of San Diego
The head of the union representing SDG&E workers says the company has laid off 50 non-union workers.
Nate Fairman, business manager of the International Brotherhood of Electrical Workers Local 465, first started dropping warnings of layoffs back in August. But he told his over 3,000 members in an Aug. 4 Facebook post that SDG&E’s layoffs wouldn’t affect unionized members.
“I made my position very clear that over my dead body would SDG&E layoff or negatively impact one of our represented families,” Fairman said.
Coalition Gauging Support for Countywide Sales-Tax Hike
By Lisa Halverstadt | Voice of San Diego
According to Bernie Baumohl of the Economic Outlook Group, a recession is unlikely. While Baumohl says the Trump presidency represents an unknown entity, tariffs, the Federal Reserve, and inflation are all in play. Immigration has undoubtedly played a role in this president’s agenda, and stagflation is possible. But stocks are up, credit spreads are tight, and spending is still alive and well.
Unemployment is still low at 4.3%, while gold prices remain near record highs. Are there cracks in consumer spending? Well, household debt is high, but net worth is at record levels. Further, 65 % own homes and 60 % own stocks. Not a bad picture!
Yes, Trump has vilified allies, saddled courts, and frustrated Americans with uncertainty. Will the midterm elections impact Trump’s moves? Will he change course, as most presidents have, when facing adversity? Consumer spending and retail sales are up, and people are still dining out even after inflation is factored in.
