I have a feeling the federal government will step in at the last moment and guarantee CA’s debt and new bonds they will have to float, just like the bailouts of NYC and Chrysler in the 1970’s.
Selling a CA Bailout in congress could get ugly.
I suspect a backdoor aproach..... immigrant reform with huge wellfare stimulus for CA .... for O’s peeps.
CA has a White Male Rino in charge .... O would love to break him.