Another Milepost On The Road To Oblivion

We're going to have to bail out California, because if we don't, the rest of the states won't get another bailout. America will suffer as a result, the recession will drag on for months, if not years longer, and it's the right thing to do. This is why we have a federal government. They need it.

We can't bail out California because the state is a mess. Both sides increased spending on their favorite projects but nobody came up with a way to pay for any of it, because it's literally impossible to raise taxes in the state. It's their fault, and the rest of us all have our own problems to fix. Screw 'em.

Both arguments are not only valid but correct, in my view.

That's how much trouble we're in right now.