Remember the Corzine town hall meeting here in Cranford? One of the biggest unitended applause lines was when he hinted at the possibility of the state going bankrupt.

Bob Ingle points out that Vallejo, CA, (a not so affluent Bay Area community) is doing just that for reasons of…wait for it…excessive public employee benefits and salaries.

Woud I like it if the state went belly up? Not if I was selling them stuff, but as a taxpayer I am warming to the idea.