California unter alles

The Golden State flirts with bankruptcy:

The state will suspend tax refunds, welfare checks, student grants and other payments owed to Californians starting Feb. 1, Controller John Chiang announced Friday…. California is projected to be $346 million short of the funds it needs to pay all its bills in February. By March, the state would be so far in the red that even continuing to suspend payments would not cover the shortfall. California would be insolvent, making the issuance of IOUs likely.

Perhaps they could encourage the immigration of more Mexicans. That should help solve the problem. We’re told they’re good for the economy, after all.