I'm also in favor of letting individual states commit suicide if they wish. The only problem is, the feds (that is, using our money), bail them out. That's largely what the $787B porkulus was all about. Aside from the payoffs to Dem interest groups, much of the money is going to states to "assist" them; that is, to shield them from the effects of running irresponsible deficits because they can't control their spending on the state level either.
That's why what happens in crazy Kalifornia affects all of us, like it or not. We're all on the hook, until and unless the feds are forced (by the electorate) to ignore governors like Ahnold, who don't know how to do anything but beg for more of our money, and remove states like his from federal life support.