[fightinJAG]

There were some bright spots: Texas, Virginia and Nebraska were among states that have done a good job of controlling their finances over the years and aren't threatened as much.

But other states, such as California and Michigan, will burden the entire country should the federal government decide to step in with a bailout. States are required to balance their budgets, but massive debt-service payments could prevent that from happening in many states and necessitate the federal government to step in.

"You have to look at the states and the risk that the states pose, because the crisis with the states will result in an attempt at least for the third near-trillion-dollar bailout," Whitney said. "That has consequences on the dollar, that has consequences on just about everything. It certainly has consequences on the US recovery."

[GeronL]

Those “bright spots” aren’t that much better off, because their in the same large boat as Kalipornia and other states.

[forgotten man]

“Imagine you’re conservative, fiscally sound Nebraska and you have to bail out California, or you’re fiscally conservative Texas and now you have to bail out Michigan.”

Too bad that states like Texas or Nebraska cannot sieze parts of California rather than giving billions of dollars for nothing in exchange. The people in the more conservative parts of California would prefer to be governed by Austin than by Sacramento.

[magooey]

But other states, such as California and Michigan, will burden the entire country should the federal government decide to step in with a bailout.

What would be the consequences of halting illegal immigration and sending those already in-country back home?