Comparing California and Greece

Amid all the doubt and despair, here is one thing we do know: Keeping Europe together, if it’s even possible, will be monumentally expensive. Christine Lagarde’s International Monetary Fund is supremely out of its league. Its $384 billion lending chest would barely be enough to saveGreece, never mind Spain or Italy. The IMF needs a bailout. William Pesek 

Greece with 11 million people has made $380 billion in promises they cannot keep. How many promises has California 1/10 Senators made? California has 53 million and constitutes 15% of the US economy, and so owes $2T of the federal debt. That makes California and Greece very similar insofar as promises politicans made but will not keep. Greek retirees took a 25% cut in pension and public sector unions in California will also take a cut in pensions.

However, in much the same way small state senators have been stealing from California, taxpayers in the large states have a Due Process clause they can exercise. We never had a fair vote, so when the bankruptcy comes small states, like Maine and Delaware, should accept a greater amount of the Federal debt.