Ask HN: Is the state budget crisis a reason not to move to California?

For a techie considering moving to the US and trying to choose a place to settle are California's budget crisis & high unemployment enough reason to avoid moving to the state?

My natural choice would have been the Valley but I hear there is a net outflow of Californian residents, the already in-bad-shape schooling system is due for some cost cutting, and that there is a big chance taxes will increase.

If the idea is to balance living in a tech hub vs. raising a family where would you choose to move to? Given the economic situation, would New York or Massachusetts be good alternatives to being in or around Silicon Valley.