Why is California bankrupt?

A story about a coyote
California:

The Governor of California is jogging with his dog along a nature
trail. A coyote jumps out and attacks the Governor's dog, then bites the
Governor. The Governor starts to intervene, but reflects upon the movie
"Bambi" and then realizes he should stop because the coyote is only
doing what is natural.

He calls animal control Animal Control captures the coyote
and bills the State $200 testing it for diseases and $500 for relocating
it.

He calls a veterinarian. The vet collects the dead dog and
bills the State $200 testing it for diseases.

The Governor goes to hospital and spends $3,500 getting checked
for diseases from the coyote and on getting his bite wound bandaged.

The running trail gets shut down for 6 months while Fish & Game
conducts a $100,000 survey to make sure the area is now free of
dangerous animals.

The Governor spends $50,000 in state funds implementing a
"coyote awareness program" for residents of the area..

The State Legislature spends $2 million to study how to better
treat rabies and how to permanently eradicate the disease throughout
the world.

The Governor's security agent is fired for not stopping the
attack. The State spends $150,000 to hire and train a new agent with
additional special training re: the nature of coyotes.

PETA protests the coyote's relocation and files a $5 million suit
against the State.

Texas

The Governor of Texas is jogging with his dog along a nature
trail. A Coyote jumps out and attacks his dog.

1. The Governor shoots the coyote with his State-issued pistol and
keeps jogging. The Governor has spent $0.50 on a ..45 hollow point
cartridge.

2. The Buzzards eat the dead coyote.

And that, my friends, is why California is broke and Texas is not