Working through my ignorance with your help.
Hm.The Standard & Poors site (http://www.standardandpoors.com) is a bit cryptic and unwieldy, and requires one to register before seeing any actual ratings, but as near as I can tell, even State of Michigan bonds have an AAA rating. Are there any states *other* than California that have dropped to A or lower?
Illinois, I think.
Poking around a bit more, I see that Michigan bonds in general tend to be AA-. Its just that the first few I happened to hit were AAA.It looks like most states are at least AA-, though.
Here in San Diego, it's common to hear people sneer at "Rednecks". My bet is that it's the way people used to sneer at various ethnicities decades ago. My point was that, like racism in general, it's not born out by the facts.
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