“NJ is living through this now (for the same reason), and people & employers are fleeing. Who would move here, just to inherit a huge IOU?”
That’s why I think states rights are paramount.
A state should have the opportunity to do what it thinks is best for it, not the federal govt.
If a state chooses to undermine its citizens, those citizens will then flee for other states or usurp those in authority and make things right.
If the federal govt is in charge, then there is no escape.
Both NJ and CA are great states, but there must be a reckoning at some point for the past liberal policies.
The problem is that to keep populations in those states (and keep the government caste - teachers, cops, politicians) working, federal programs (Section 8, food stamps/SNAP, SS disability, etc.) are used to take wealth from other states’ taxpayers and funnel them into the dying socialist utopias...