The state of California is on the verge of financial collapse – and not many folks seem concerned. Perhaps they are not even aware of the impasse in Sacramento. When the Senate and Assembly were considering the budget package over the weekends, many of the local newscasts led with the weather. The problem, according to CNBC's Jane Wells, is that Californians have very little contact with the state.

They're not on food stamps, they don't need Medi-Cal, they're not in prison, they're not attending state college, their drivers licenses last for years and can be renewed by mail. Most Californians haven't filed for their tax refunds yet, so nothing's being delayed for them. Yet. We had a twice-a-month furlough kick in a couple weeks back, and most Californians didn't notice. Now the Governor has threatened to lay off 20,000 workers, but we're told it may actually end up closer to 10,000, and a lot of those jobs could be cut through attrition.

Eventually they’ll feel it, of course. If this budget plan goes through, there will be increases in the sales tax, gasoline tax and state income tax. Also, if enough state workers lose their jobs, it will impact everything from car sales to attendance at Disneyland.