If Cali wanted to go I’d be OK with that. Their theory is that they could have their own Chile like nation on the West Coast. (Sadly it would likely be more like Mexico after a few years – which has some charms but not enough.) And they might just be able to pull it off – if it weren’t for the massive government that weighs the state down, and the state employee pension obligations that the state secretly hopes will get bailed out by the rest of the United States down the road.
If California was lean and had good rule of law, it would be a pretty easy equation. But because Cali is a big government state, independence will be much harder, and debt issues much stickier.