We often cover the US federal level budget and debt issues. But what is the situation at the state level? This week's Bygone Relics show is answering this question:

To start with, California had a $100 billion surplus causing governor Newson to say ‘no other state in American history has ever experienced a surplus as large as this.” Last month, Newson had to eat those words because the state is facing a $22.5 billion deficit according to Dan Walters at Cal Matters.

Ask yourself this question- if the Feds don’t bail us out how much will my taxes go up to pay these costs?