CA issues IOU letters next week - New England Patriots Forums

***NEPatriot*** · 06-24-2009, 06:04 PM

Lawmakers reject budget fix; state could begin issuing IOUs next week - Los Angeles Times

Quote:

Lawmakers today rejected the core of a Democrat-backed plan intended to tame California's $24-billion deficit, even as a top state finance official warned that failure to resolve the budget crisis will force him to begin issuing IOUs next week.

***Leave No Doubt*** · 06-24-2009, 06:16 PM

Owow I remember, a few months ago or more reading this was going to happen, I think Counterpunch had a piece on the IOU's. Well supposedly the state of MA is broke so who knows when it'll be our turn.

One thing's for sure, there's a fire sale on commercial property here. Every week or so there's a new building up for lease or sale. Who's going to buy them? What business is going to lease office space from them? Nobody.