The Coastal Cities of California wish to split off from the rest of California to become the 51st state. Your thoughts?

Residents of the Coastal cities say that their state is being badly financially mismanaged. California is now the poorest state in the Union. It has been likened to a crazy old Uncle who wants to buy you dinner all the time but he owes a hundred grand to every loan shark. New California, comprised of the west coast cities, would then become the 51st state.