[FirstPrinciple]

Except the US Treasury bonds are probably the highest rated bonds in the world. I could be wrong, but I don't think we need to pay a hefty premuim for people to hold US bonds. CA probably has the lowest rating in the whole business. It has to pay a much higher premium, because unlike third world countries CA will not have IMF holding its debt for next to nothing interest rate. Give CA back to Mexico and let it raise as much debt as it wants.

[mike_9958]

So we need to thank Gray for screwing up the credit rating for CA too

So we got a state with big debt and a low credit rating.... great. Now you depressed me.... and I don't even live close to CA. thanks