[streetpreacher]

Seriously, what does happen when a state goes bankrupt? How would California's bankruptcy effect the national economy?

[goldstategop]

If its an Argentine-style meltdown, it would devastate the shrinking middle class. The Democrats would be the main political victims of such a fallout. I never like to say something bead about my country but sometimes I think we may need the worst to cure people of their infatuation with socialist Nanny State schemes.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[Freedom4US]

Technically, states cannot declare bankruptcy. It didn't stop Orange county back in the 80's however.

[Peach]

Seriously, what does happen when a state goes bankrupt? How would California's bankruptcy effect the national economy?

You're kidding, right?

California is the WORLD'S 5th largest economy.