The Dominoes Are Starting To Fall In California

[mydoghasfleas]

It will be interesting to see. In simplest terms, when you go bankrupt, your assets are essentially sold or siezed to settle your debts. Will be interesting how that would pan out for a State. Would private companies come in and gobble up said assets? Would the creditors (the citizens of the state) gain owernship of any of them?

Chinafornia?

 

[spec4]

Red states receive more federal welfare than blue states. Your concern is misplaced.

The Red/Blue Paradox - Reason.com

PolitiFact | 'Red State Socialism' graphic says GOP-leaning states get lion's share of federal dollars

Interesting article that IMO paints a broad brush. My point is, and time will tell, that most urban areas are run by liberals who support Obama. I can see Obama giving federal grants to these areas. Take Chicago, the majority of the rich powers brokers are Democrats. Consider the Pritzker family that helped bail out criminal Richie Daley when he was way over budget on his Millenium Park. Note that one of the buildings there has the Pritzker name on it. I'm just pointing out how there is no shortage of rich Dems out there, who can use their influence to attract federal money. Sorry for rambling.

 

[RockofStrength]

If my foot was possessed like Ash's hand, I would probably cut it off.

A chainsaw foot...i like it...

 

[Baditude]

They voted for it, let them deal with it.

I don't want to see federal funds bailing out state or municipal governments.

*&#% them.

My problem as well, why should the rest of the country bail the fools out

 

[spearheadersarge]

That is the danger of ballot initiatives. The sheep like a good idea but don't know how to pay for it. They make it law but an unfunded liability and then the pols gotta try to pay for it. Cali is facing some real scary tax increases. I wonder how long it will be before people wake up and scream "Hell no, you aint getting any more of my money!" They have pretty much ran off all but the biggest employers in the state. Idaho/Arizona/Oregon are very thankful!!!