Greekafornia

Gov. Arnold Schwarzenegger will declare a fiscal emergency and call  an emergency session of the incoming Legislature  to address California’s massive budget deficit, a spokesman for the governor said Thursday. Schwarzenegger's announcement comes one day after the state’s chief budget analyst said the shortfall has grown to $25.4 billion.

Times Online.

OK, we are ruled by labor law judges. Cities are managed by criminal state investigators. Budgets last ten days. Who is lending?

We call this a state bankruptcy.