Greece is unique in one sense, it caused its own problem. Californian's problem, the 10% and above unemployment rate is caused much by Washington DC, and the debt cycle. This much will come out of the regional Ceridian analysis. Fiscal stimulus skews to the eastern seaboard, and appears in California and Nevada as an inverse, multiplier less than one. The crowding out channel is the overlap between California and DC income taxes, California gets systematically drained.
So, then there really is no Federal bailout for California that makes thing better.
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