California follows in the footsteps of Greece
Back in the USA, the state of California is accelerating toward much the same outcome.
Suffocated by the terminal financial burden of leftist social programs, welfare handouts, runaway social services and health care costs for its millions of undocumented residents, California is also headed for its own financial implosion.
"We are now facing a $16 billion hole, not the $9 billion we thought in January," said Gov. Jerry Brown in a recent New York Times article. "This means we will have to go much further and make cuts far greater than I asked for at the beginning of the year."
Learn more: http://www.naturalnews.com/035858_Greece_bankruptcy_California.html#ixzz1urojUjq3
Maryland - although not in as dire shape as California - it does show signs of progressing down the same path as California. With Maryland's proposed MOE spending formulas, social programs, underfunded State pensions, may also be headed for its own implosion.