It seems that several States in America owe more money than they will ever be able to pay. Most of it in States governed by Leftist/Socialist Democrats. Taxes will have to increase and/or government pensions decreased. Raising taxes will cause a greater exodus from these States than they are now seeing which will make this financial debacle even worse.
Connecticut $53.000,000,000 in debt
Illinois $30,000,000,000 in debt
New York $356,000,000,000 in debt
New Jersey $104,000,000,000 in debt
California $428,000,000,000 in debt
Does anyone think that the lesson here about Democrats' complete inability to govern and the utter failure of Socialist financial policies will be learned? Me neither.