Although California is a much beloved state, its fiscal picture is creating a giant sucking sound to The West. According to The NY Times California debt burden is over $100,000,000,000 (ONE HUNDRED BILLION DOLLARS) and there is no end in sight. It is foreseeable that California may ask for help from the US Government to bail them out.
Be it RESOLVED that …Just as GREECE was asked to institute AUSTERITY MEASURES, California should be asked to draft meaningful, realistic austerity measures NOW (and certainly such should be clearly delineated BEFORE any federal bailout is even considered).
Reference
http://www.nytimes.com/2012/09/21/us/california-debt-higher-than-earlier...