I recall back in the 70s when President Gerald Ford declined to bailout a bankrupt New York City there was a famous New York Daily News headline: "Ford to City: Drop Dead."
Somehow, the city didn't drop dead or otherwise disappear off the face of the earth. But President Obama is far too compassionate to force California to clean up its own mess. And so taxpayers from Washington to Florida to Maine will foot the bill for the proflicacy of California's political class.
The country's in the very best of hands.