For their next magic bailout trick the Federal government will have to bailout several states, not the least of which is California. According to The Governator, the reason that California is having a hard time is the Federal government:
Government is really at fault, and this is why government has to get us out of this mess now and figure out very quickly how to get us out of it,” he said. “And I’m talking about Washington.
Laughable. He conveniently forgets to mention that California has increased expenditures 95% in the past decade, spending money like drunken sailors, and now it is time to go get Bernanke to print them some money so they can pay off their debts.