Twenty percent of the union face imminent bankruptcy:
Those states in fiscal peril include California, Arizona, Rhode Island, Michigan, Oregon, Nevada, Florida, New Jersey, Illinois and Wisconsin.
California, a state with a population and economy that rival some countries, is in deep water. It’s one of the few states to support illegal aliens in its social welfare programs, and that definitely doesn’t help the situation.
Will these states ask for more federal bailout money? And can this administration swallow another gigantic state stimulus pill? After all, President Obama has admitted that the stimulus proved to be ineffective in curbing job losses.

