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Deficit forces California to issue IOUs (again)

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posted on Jul, 1 2009 @ 11:04 PM
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i guess the media has abandoned everything for MJ too. i'm in so cal. and i am not diggin this crap at all. get my my last u- check saturday. and thier driven me nuts w/ micheal jackson michral jackson micheal jackson
micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal jackson micheal the pedophile fn who gives a left nut jackfriekenson
God will it never end.




posted on Jul, 1 2009 @ 11:18 PM
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Can they use IOUs at the supermarket,walmart,their mechanic?Bus fare,gas pumps,credit card payments.Catch my drift?



posted on Jul, 2 2009 @ 12:29 AM
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Originally posted by AgentX09
Can they use IOUs at the supermarket,walmart,their mechanic?Bus fare,gas pumps,credit card payments.Catch my drift?


Maybe the IOU's should be used to pay taxes and credit card bills.

Another line....



posted on Jul, 2 2009 @ 01:35 AM
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reply to post by wutone
 



Actually, word is that the State of California Will accept the IOU's it issues in payment for state taxes and fees.

Which essentially means that the State is willing to accept delayed payments (the warrants, refered to as IOU's, cannot be cashed until October, 2009) on delayed funds that already causing budget shortages, resulting in the need to issue the warrants.


And so on, and so on, etc ad infinitum...ad absurdum.






posted on Jul, 2 2009 @ 11:13 AM
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IT'S OFFICIAL. California is approaching meltdown, according to a 6/11 statement by California Controller Chang.

www.reuters.com...

California nears financial "meltdown" as revenues tumble
Thu Jun 11, 2009 6:53pm EDT

"SAN FRANCISCO (Reuters) - California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.
...
"Without immediate solutions from the governor and legislature, we are less than 50 days away from a meltdown of state government," Chiang said in a statement....


California politicians SUCK!



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