Will California become America's first failed state? See LINK:
by 
Jim in a Nautilus COAT
ANSWERS: 7
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First? No, that was Texas.
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All of you had best hope not....;-D... http://politicalhumor.about.com/library/jokes/bljokecalpower.htm
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I'm not really all that sure. I would say that California is likely to be the first, though. California is trying to do too much, so it's going to collapse at some point. I tried to get some insight from the comments on the article, but they are all just the same comment posted over and over by rabid conservatives: "Mexicans and hippies did it." I was not able to find anything else, so I haven't learned much from that.
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Nupe. We'll recover just fine.
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In a sense they already are, they are the only state i know that can spend over their budget, they have been doing this for quite awhile now, issuing bonds for their overspending. Well eventually people will figure out these bonds are worthless, because they cant cover them, that has already happened actually. They need to balance their budget just like all the other states. They act like the government, this will only end in disaster.
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My money's on Connecticut, and going to the state. One of the most unfriendliest states for businesses, high unemployment, declining population and a huge budget deficit that he politicians think adding more taxes will resolve.
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California developed stupidly. Big suburban subdivisions and highways are not sustainable, and if not sooner then later California's socioeconomic fabric will crumble, but so will much of the U.S. outside of California. However, it's not really fair to say the state is a failure. California may have a stupidly run government, but it also is burdened having to pay for programs elsewhere in the country. It gets back significantly less in federal spending than it sends away in taxes, and much of it goes to states that refuse to take care of themselves. If anything, this just shows how incestuous American development and economic regulation is in general.
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