The state of California has been teetering on bankruptcy for years now. They have been bridging the gap using loans and bonds. Now their bond status has been downgraded and the potential for the state to get money has decreased. I am sure you have all seen the educational cutbacks in the news.

So that leaves me with a question, what happens when a state goes bankrupt?

I got a (golden gate) bridge to sell you?

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Obama has spent hundreds of billions bailing banks and companies out. It would take only a small fraction of that to keep California from going bankrupt. Why allow one of the biggest economies in the world to fail when all Obama has to do is have them press a few buttons on a computer somewhere? Why is it that some banks are "too big to fail" yet California isn't? No, California also is too big to fail. It's not going to happen. The federal government will save the day.

I am a Californian.

In my opinion, the partisan conflict is tearing the State of California apart.

We elected A. S. to solve the problem as a middle-road politician, but he could not.

The SofC cannot bring itself to the reality that it cannot afford the public programs it has build over the past 50 years. The collapse of property taxes have increased the problem threefold.

California needs to audit itself. It needs to stop fraud, waste, and abuse. It will not do it. Therefore, the partisan warring will continue as they defend their own constituents. Damn the torpedoes, full steam ahead.

California legislature is like the proverbial ostrich with its head in the sand. If it comes to a realization of its pitfalls, and bipartisan cooperation develops, it will be too late. The die is cast, the the future is determined.

For example, the Department of Health and Human Services, Child Protective Services Division, had a big article in the Sacramento Bee today. They don't have the funds they need to protect the children. Boo hoo. Well, the facts speak differently. 61% of the cases CPS handles are real cases. The others are not. If California reduced the CPS budged by 40%, CPS would have to back off and stop splitting up families over the smallest of issues. They are family destroyers. Look at the websites about it. If the State legislators had the strength of conviction to look at the facts and make the right decisions for the State rather than themselves, the State would flourish. However, they are watching out for their own political careers. So be it. You reap what you sow. People without courage do not deserve to live in democracy. Freedom has a price, and the legislature in California does not have the brave heart to pay that price.

they legalize pot.
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So if the Feds bail out the states ...who bails out the fed? (Fed as in federal government not the reserve)

The reason that the government is letting stuff like this slide is that they know something is coming that is so big that pretty soon it won't matter whether anybody's finances are in order or the roads and bridges are passable or Iran attacks Israel. They'll all be holed up under Denver New World Airport waiting it out.

If you ask me California has always been a boom and bust state ... viva Mexico and the Gold wars.