There is no California:
There is no such state. Instead there are two radically different cultures and landscapes with little in common, each equally dysfunctional in quite different ways. Apart they are unworldly, together a disaster.
Yes. It needs to be split up.
And tens of thousands show up at Bernie Sanders rallies in the hope that Bernie can make the federal government emulate California policy on a national level.
Greece, dude. Greece.
I have a better idea, just give Cali back to Mexico
When a state goes bankrupt – and I’m not just talking about California, I’m looking at Illinois among others – it is obvious that it cannot self-govern. If it happens to a city, a judge is appointed to run things (since the mayor and alderman have demonstrated they cannot). If it happens to a state, it should lose its charter as a state and become a mere protectorate (like Guam). No representation in the Senate, its Congressmen become non-voting delegates. Oh, and a bankruptcy judge determines which creditors get paid how much and which contracts get voided.
Or you could just make public-employee unions illegal.
This sounds quite a bit like New York State.