"The head of state announces a financial crisis after trying unsuccessfully to rein in spending. ...

I predict this will be the headline in six months to a year and you can replace Greece with California and the EU with the United States."

[TheStreet.com]

"California has been hit by out-of-control spending without making much of an attempt to cut or balance the budget; it has a highly paid unionized workforce and a plan to spend more and tax the rich, all 144,000 of them, who are leaving the state in force, with Nevada as their favorite destination. "

"As a business owner, I would've folded ages ago had I run my business like any of these "leaders." Deficit spending, out-of-control hiring when you don't have the revenue to support it, borrowing more money to spend money to get out of debt, hiring idiots to run critical departments, annoying your primary banker by starting a trade war and raising prices on your best customers to raise money. I could go on but you get the picture."