California, as I had mentioned a long while back, is completely insolvent. The State government out there spends billions of dollars more than it brings in every single year, resulting in an ever-increasing load of debt that is heaped upon every citizen there now, and every citizen born there for centuries to come.
Enter our current credit "crisis," in which people high and low are suddenly surprised to learn that they can no longer get credit as they once did. Alas, we now discover that California, being one of the largest debt-consumers in the nation, is no longer able to tap the bond markets quite as heavily as it once did.
So what does California think the appropriate solution for its self-inflicted financial problems is?
If you guessed "Ask Washington, D.C. for a bailout," give yourself a big fat pat on the back.
And then prepare open up your wallet.
Seriously, folks, it's stuff like this that makes me wish we had a Federal law prohibiting any exit from California. With as many of Them as we have here in Fairfax County, it's no wonder we can't go through a single election without "voting" ourselves another $60 million into debt.
Michelle Malkin, who loves bailouts just as much as I love Californians.