California Paying Bills With I.O.U.’s
LOS ANGELES — Its budget gap growing and its political process for addressing the gap unhinged, California will begin Thursday to pay vendors and taxpayers with i.o.u.’s, only the second time the state has adopted the emergency payment method since the Great Depression.
Read more: http://globaleconomicnews.blogspot.com/2009/07/california-paying-bills-with-ious.html
Tags: Darrell Steinberg, Schwarzenegger, California politics, California budget, Twitter, Bank of America, Wells Fargo, Chase, Professional Engineers in California, State legislature, Warrants, IOU’s, budget gap, the great depression,
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