In the more liberal states you would be able to completely end the 2nd amendment and only the state would be allowed to have guns. You would be able to legalize gay marriage, partial birth abortion, set prices, raise the minimum wage, increase welfare, "free" healthcare.... You would be able to do whatever you want in liberal dominated states that could get the majority vote for liberal beliefs.
The catch is not all states are liberal majority so you would have some states that would legalize the 2nd amendment, ban abortion, due away with the welfare state, and let the free market control the private sector.
Bailouts would not be allowed. You would not be able to get the other states to pay for your policies unless the majority in that state voted to bail you out