[Brilliant]

This isn’t going to be fixed by dividing the state. It’s going to be fixed when CA can’t pay the debt service on its bonds, and Wall Street won’t roll over the maturity. Even then, it will take a couple of years before the CA voters realize that this can’t be fixed by increasing taxes. It will learn the same way that Michigan is now learning. Increasing taxes makes the population of the state smaller. It’s just a matter of a lot of economic pain over a period of several years.

[backtothestreets]

This isn’t going to be fixed by dividing the state.

It most certainly would fix the problem for the new state as it would be able to address its portion of state debt, and reduce or eliminate much, if not all of that debt by reducing or eliminating bond measures during the constitutional convention.