State controller John Chiang sent out warning letters to agencies warning that they could receive IOUs in place of paychecks in one month. Many state workers are safe, protected by a court ruling, but elected leaders and their staff may be about to get hit in the wallet.
"We are in a very difficult situation," said spokeswoman Hallye Jordan from the Controller's Office. "The state is running out of cash."
In two weeks, Chiang will pull the trigger and start the process of issuing IOUs for 1,700 people -- legislators, judges and their appointed staff. The IOUs will go out after February 1st if the budget crisis isn't solved.
Read on.
1 comment:
This is to much first Arnie pays Govenment workers 6.55 cents an hour and hasn't paid them back and now he's giving out IOU's. Let's see how homeowners give their banks IOU's for a mortgage payment or car payment. Interesting how the State wants your payment in cash. Some people who owe taxes should send an IOU. Now California would have billions with a surcharge on ships coming in to CA. But Sarah Palin told Arnie not to charge the ships and as a loyal Republican Arnie listened and obeyed her orders. I wrote Obama and told him and Biden not to give Arnie a dime unless he proves it goes to the people. Arnie gave rich people a break on taxing their boats and other wealth.
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