Ultimate upshot: Will solvent states end up paying for the sins of the insolvent ones? Maybe it's time for a big California tea party.
UPDATE: Ballot-box tax revolt by California voters?
Look at this: voters rejected proposals for tax hikes, but they did approval one measure:
Only one of Tuesday's proposed ballot measures met the approval of voters, an initiative that prevents elected officials and employees from receiving pay increases when California is running a deficit. The measure was approved by more than 75 percent of voters.