Just a curiosity question here, if Californias financial climate continues to go downhill, and you have a significant number of people dependent on social welfare programs, disability etc. what happens when the State runs out of money? would they ask the Federal Government for money? or will all those people dependent on Government just pack up like you said and milk taxpayers elsewhere?
Lose 1000 day laborers, nobody gives a shit. Lose a few dot-com millionaires, you've created a BIG problem.
Sadly, nobody in Sacramento has yet to figure that out. Hell, nobody OUTSIDE Sacramento figured that out, judging by the fact that Governor Moonbeam is back in power. Prop 13 came about in 1978 because of his insane increases in property taxes.
Now I might sound a bit tinfoil hatted here, but I think 100 years from now, historians will point to the day the federal government bailed out the CA state government after they filed for bankruptcy as the "opening salvo" in the Second American Civil War. YMMV.
The whole point is exactly what we've known all along, but the pols can't bring themselves to admit or face--the level of spending and the future liabilities are unsustainable, and given the current economic outlook for places like California, the judgement day will only come that much sooner.