Saturday, August 21, 2010

FT.com / US / Economy & Fed - California faces issuing IOUs again

FT.com / US / Economy & Fed - California faces issuing IOUs again: "California will be forced to issue IOUs to public workers and other creditors in lieu of cash in the next two months if a budget deadlock cannot be broken, the state’s financial controller has warned."
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La de da, la de da. Off the cliff the California legislature and governor go, with Illinois state government hurrying to catch up with them.

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