Hah! Got that right. My first guess would be California, second guess Illinois. Both are in dire financial straits but Kali is piling it on with regard to pensions, the Train To Nowhere, and loose-cannon taxation policies. I could see them threatening to default on their bonds, expecting to be bailed out by a federal cash infusion because they're "Too Big To Fail". But under this President? Maybe not so much.
To big to fail when California wants to leave the Union ?
Their currentcy would be worthless compared to the USD..