Unless lawmakers act quickly to solve the state’s budget and cash crises
California is eight days away from issuing IOUs to many of its creditors
state Controller John Chiang announced this morning
Did the world’s wealthiest generation
forfeit their children’s financial future
for present prosperity?
Without such action
Chiang said his office will begin issuing registered warrants
on July 2
to private businesses, local governments
and owners of unclaimed property owed money by the state government
as well as taxpayers due income tax refunds
California Eight Days From IOUs
From Bond Buyer, via Paul Kedrosky and The Business Insider
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