California's Going Out Of Business

Ahnuld will write you an IOU if he owes you a tax refund this year.
If you thought that the collapse of Iceland made things tricky, confidence-wise, just wait until this sucker goes down. Which it is expected to do this week or next, as it technically becomes insolvent, unable to pay tax refunds, repair roads and bridges, keep schools open, or indeed provide a wage for anyone unfortunate enough to find themselves on its payroll.
Cheer up, Californians, you're still the vanguard. The stimulus bill will put us all in your boat in about 18 months.

Curtsy: ninme.