Posted on 08/12/2010 9:16:55 AM PDT by george76
State Controller John Chiang said Tuesday that without a state budget, California's government would be unable to pay its bills in late August (or maybe early September). That means issuing IOUs to some people. Possible dates for IOUs could be either Aug. 27 or Aug. 31, when big payments to schools are due, according to this schedule on the controller's website.
This announcement, in the upside down world of California's badly broken budget politics
(Excerpt) Read more at nbclosangeles.com ...
The CA rats won’t get serious about a budget until after the Nov. election. There is no way they’ll force their welfare, illegal and union leeches (constituents)off the dole until the vote.
Try paying your taxes with IOUs see what happens...
They’re taking their sweet time on tax refunds too, especially on amended returns. The website says six to twelve weeks, but if you call them they say it’s actually six months or more. Looks like if you just did an amended return, you might be getting an IOU in January just in time to do your taxes.
The use of IOUs should not be selective but all encompassing, including salaries. Why should vendors and special districts get IOUs while the paychecks continue as usual? So far as the legislators and their staffs are concerned, they should get no pay at all until the budget is balanced, without tax increases or borrowing. I seriously doubt it will be as much fun being a legislator when they have to be fiscally responsible. Chiang fought Arnie’s proposals for reduced spending so he should take the heat for sending out the IOUs.
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