The reality of this is that the State Controller has sent several of these letters and nothing's really come of it. I mean, as a state we're in the territory o

The reality of this is that the State Controller has sent several of these letters and nothing's really come of it. I mean, as a state we're in the territory of $150 billion in total debt and knowing that full well our legislature still budgeted for more than we could afford in the current fiscal year. Not went over by accident, they actually passed a budget that was more than we could afford. I hate to say it but at this point our financial situation boils down to this: There's no way we can meet our obligations, every part of our government refuses to take their heads out of the sand and the United States can't let the state of California fail. So the rest of you are going to end up bailing us out one way or the other. Sorry.