Pete C. wrote:
>
> The rest of CA's bankruptcy is due it's insane nanny entitlement state,
> that is driving the productive workers and businesses out of the state
> in droves, never to return, resulting in even more burden being shifted
> to the remaining taxpayer, driving them out, etc. in a lovely welfare
> death spiral that will ultimately end in total bankruptcy as you run out
> of other people's money to fund the insane entitlements.

I live here and except that you omitted the innumerable ballot
propositions stated by petitions that propose to spend more money by
issuing general obligation (read: unsecured) bonds without providing a
way to pay the money back regardless of what they want the money for, I
think you have it pretty much nailed.