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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?
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....