You know CA is in the financial shitter when you haven' t lived their for two years and you receive a letter in the mail stating that a levy has been placed on your bank account because of a vehicle registration that was not paid after you moved away. We left a forwarding address and *zero* notice was sent to us since we've moved from CA to Arizona.
In other words, California is so broke they're "reaching for shit". If you have any CA municipal bonds, I would sell now, Now, NOW!!!