As a result of CA’s bankruptcy in the 1930s, states can no longer declare bankruptcy. CA has received a federal bailout for overspending it’s budget by $19 billion in 2001, and again in 2008 for $42 billion of overspending. According to LAO estimates, CA has overspent now in 2020 by about $84 billion. President has said that he will not be bailing out mismanaged states. CA’s governor with his budget stands at the edge of a financial cliff and is about to be pushed with the “doink” of a little finger push into financial insurrection.
Chapter 2, Grievance 13 – The California Governor has been doinked