UCLA's Anderson School of Management released its annual forecast Tuesday. 

Among its many revelations? California's economy is doing well, but perhaps not as well as it could be.

That's because at least two campaign trail promises made by now-President Trump won't come to pass — for now.

Those promises included increased spending on military equipment and infrastructure. There were no significant allotments made for either in the administration's recently released budget proposal. California would have benefitted directly from both. 

You might just call it "economic dreams deferred." 

Take Two talked about it more with the report's coauthor, Jerry Nickelsburg. 

Press the blue play button above to hear the full interview.