The ONLY thing keeping CA from going completely broke at this moment is the fact that Gerry Brown is old enough to understand how a budget works. Even though CA's debt is nearly a trillion dollars, the legislature sees a budget surplus and wants to start cranking the welfare machine back to full throttle, and he says no. Once he's gone and the next governor gets in, it's curtains for the golden state. But P1k3 is correct in saying that the high speed rail debacle will be the final nail. Will probably be the first state to file for bankruptcy.