The state of California, which helped bankrupt Stockton by plundering redevelopment funds and vehicle license fees, would be bankrupt itself, if states could go bankrupt, says SacBee columnist Dan Walters.
And for the same reasons: the political pull of public employee unions, bad fiscal management and the recession. I love California. But it would be interesting to live in a deficit-free state, just to reassure one’s self such places exist.
