Analysts note: Absolutely must read. Eventually the residents of the state of California will have to pay this huge and still growing debt resulting from their local policies. California is said to already be in debt to the tune of $8.6B. We also understand that a payment of $362M is due to the federal government by the end of September 2011. My guess is that other states, some 32 of which are also in trouble, will not - can not - pay the bill for them.
One has to wonder what the name of the new state will be when California is no longer? Perhaps it will just be gobbled up by those on the border. Lets just hope it is not their southern border.
"With one in every eight workers unemployed and empty state coffers, California is borrowing billions of dollars from the federal government to pay unemployment insurance. [....]"
Perhaps a simple gumball demonstration like the one below, along with an understanding of the socialist agenda operating in the state, will help put some of California's problems into perspective.