Obama to California – drop dead

Shades of 1976, eh, for those of you to remember Jerry Ford and New York. The Obama Administration officially told the state of California no on a request for special federal financial aid. (Please don’t call it a bailout.)

Yes, California is the nation’s largest economy.

That said, although Obama has set too many bad examples with bank and auto bailouts, he had to draw the line somewhere, and for the same reason his banking bailouts, especially, were bad. He had to force accountability somewhere, which he, Geithner and Summers certainly have not done with banks.