Things can change mightly quickly. If CA does indeed go broke (I don't know how it can be prevented WITHOUT libertarian financial policy), people will vote all incumbants out!
Also, once there's no more money in being a politician (yes, I think they embezzle regularly), the regular idiots will no longer be interested in the job, and the big money contributions from the major parties will dry up.
This is the plan for a complete takeover of our political system nationwide. We can continue to have a two-party system, but they will predominantly be libertarian-leaning democrats and republicans, none of which are socially conservative or financially irresponsible, because there will no longer be an infinite supply of paper called money!