[genefriend]

California budget deficit: $1.6 billion

California GDP: $2.7 trillion

I think California will be fine.

[jlmorton]

Where do you come up with a $1.6 billion deficit? There is currently a $6.1 billion surplus, which actually understates the strength of the budget, given debt deleveraging.

[DrScump]

http://www.latimes.com/politics/la-pol-sac-jerry-brown-budge...

[carbocation]

"Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

(Though, in the end, I agree with you.)

[nradov]

There's really no sensible comparison between an individual on a fixed income versus a sovereign with taxing authority.