Thu, Jul 2nd, 2009
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SAN FRANCISCO, July 2 (Reuters) - As California marked itssecond day of a new fiscal year without a budget agreement, thestate government moved ahead on Thursday to issue billions ofdollars in "IOUs" in order to avoid a cash crisis.
California faces a financial stranglehold after lawmakersfailed to balance the budget by the start of the state's newfiscal year on Wednesday, leaving a $26.3 billion deficit.
Related stories from top sites:
California sets terms for redeeming sold IOUs
Jul 1st, 2009 - Reuters
SAN FRANCISCO, July 6 (Reuters) - California's statetreasurer's office said on Monday it would redeem "IOUs" issuedby the state in lieu of payments amid its cash crunch if theyare sold through eBay (EBAY.O)...
As California struggles, Fitch cuts debt rating
Jul 1st, 2009 - Reuters
SAN FRANCISCO (Reuters) - California suffered a new setback in its financial crisis on Monday when Fitch Ratings cut its rating on the state's general obligation debt to just two notches above junk status.
UPDATE 4-Hope for California budget deal as 'IOUs' planned
Jul 1st, 2009 - Forbes.com
SAN FRANCISCO, July 2 (Reuters) - Top California lawmakers raised hope on Thursday that an elusive budget deal could be at hand, as officials began issuing billions of...
Cash-strapped California sets interest rate on 'IOUs'
Jul 1st, 2009 - Reuters
SAN FRANCISCO, July 2 (Reuters) - California officials,facing a cash crisis without a state budget agreement, approvedon Thursday a 3.75 percent interest rate and an October 2maturity date for registered warrants...
California Misses Deadline, May Now Have To Issue IOUs
Jul 1st, 2009 - The Huffington Post
SACRAMENTO, Calif. — Legislators in more than a half-dozen states, their revenues evaporating in the recession, frantically worked to stave off government shutdowns and devastating service cuts...
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- California's IOUs affect...www.sdnn.com
- California Runs Out of Money...Please rate, subscribe and pass on. Thank you. Coffers Empty, California Pays With IOUs LOS ANGELES — An ever-widening budget gap joined with intractable political paralysis to deliver California its biggest fiscal blow in decades on Thursday ...
- California IOUs and Cal...California has a cash crisis. They don't have enough money to pay the people they owe, so they are now issuing IOUs, aka Registered Warrants. We look at the basics of IOUs and how it'll affects students who rely on Cal Grants ...
- Inside Look - California...Interview with MSRB Executive Director Lynnette Hotchkiss (Bloomberg News)
Related stories from Digg:
The Future of the U.S.? Look to California
California, you may have heard, is an apocalyptic mess of raging wildfires, soaring unemployment, mass foreclosures and political paralysis. It's dysfunctional. It's ungovernable. It's so broke, it had to hand out IOUs. But California, to borrow a phrase, will be back. "The next economy is already in place there, and it's amazing."(Political News)
SteingartenThu, Oct 22nd, 200913 Diggs, 1 CommentsSome furlough days actually cost California money
Staff shortages are forcing tens of thousands of state workers employed at prisons and other around-the-clock institutions to report to work on their furlough days -- and the state is paying them with what amount to IOUs that will be costly to taxpayers, according to a Senate report to be released today.(World News)
missamberjThu, Oct 15th, 20091 Diggs, 0 CommentsIs Maryland The Next California? | Red County
California’s slide from one of the nation’s most prosperous states to one that can’t pay its bills and is issuing IOUs should be a cautionary tale for us here in the Free State – if anyone cares to listen.(Political Opinion)
teamronmillerWed, Oct 7th, 20091 Diggs, 0 Comments
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