Thu, Jul 2nd, 2009
* Democrats drop demands for tax hikes in budget
* Top Republican lawmaker now expects progress toward deal
* State sends 'IOUs' to preserve cash for priority bills
(Recasts with Democrats dropping demands for tax increases,adds comments)
SAN FRANCISCO, July 2 (Reuters) - Top California lawmakersraised hope on Thursday that an elusive budget deal could be athand, as officials began issuing billions of dollars in "IOUs"to avoid a cash crisis on the second day of a new fiscal yearwithout an agreement to balance the state's books.
Related stories from top sites:
Top California lawmaker sees budget talks back on
Jun 26th, 2009 - Reuters
SAN FRANCISCO, July 8 (Reuters) - California AssemblySpeaker Karen Bass said on Wednesday she sees stallednegotiations with Governor Arnold Schwarzenegger over closingthe state's $26.3 billion budget gap resuming by Friday. Bass...
California IOU holders may turn to check cashers
Jun 26th, 2009 - Reuters
SAN FRANCISCO (Reuters) - California "IOU" recipients can turn to credit unions and check-cashing storefronts if a state budget deal does not appear by Friday and if three major banks refuse to accepting the notes beyond Friday as planned...
UPDATE 4-Hope for California budget deal as 'IOUs' planned
Jun 26th, 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...
IOUs from California are on their way
Jun 26th, 2009 - San Jose Mercury News
SACRAMENTO — With its bank balance careening toward zero, California began sending tens of thousands of IOUs to its creditors on Thursday, the latest black eye for the state and its broken budget system.
Schwarzenegger, GOP reject stopgap for California budget
Jun 26th, 2009 - MiamiHerald
California's budget problems evolved into a game of political chicken Thursday, as Gov. Arnold Schwarzenegger and GOP state senators took an all-or-nothing stance that could lead to issuing IOUs to pay the state's bills.
Related videos from YouTube:
- 7 2 09 Aaron McLear Discusses...Governor Schwarzenegger's Press Secretary Aaron McLear discusses state issuing IOUs, and lawmakers failing to reach budget deal.
- California's IOU Budget...California began having budget problems as early as 2007. The financial crisis of 2008 worsened the problem. The state postponed payments of some obligations in winter 2009 but a budget deal in February 2009 temporarily ended that episode ...
- 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 ...
- Arnoldbucks: IOUs for CaliforniansGet your own Arnoldbucks here: www.couragecampaign.org California faces financial "Armageddon," as Arnold Schwarzenegger bluntly stated a few weeks ago. And yet Arnold and his fellow Republicans ...
Related stories from Digg:
Deal reached to close California's $26B budget deficit
Gov. Arnold Schwarzenegger and California's legislative leaders agreed Monday on a plan to close the state's $26 billion budget shortfall, potentially getting the state back on firm financial ground so it can stop issuing IOUs.(Business & Finance)
kploTue, Jul 21st, 200987 Diggs, 15 CommentsHope for California budget deal as IOUs planned | Reuters
SAN FRANCISCO (Reuters) - Top California lawmakers raised hope on Thursday that an elusive budget deal could be at hand, as officials began issuing billions of dollars in IOUs to avoid a cash crisis on(World News)
ericarkiFri, Jul 3rd, 20091 Diggs, 0 CommentsCalifornia blows budget deadline, IOUs expected soon
The IOUs aren't in the mail but they are soon likely after California political leaders failed to reach a last-minute deal on fixing a $24.3 billion budget deficit Tuesday night. As a result, the state whose economy is bigger than all but seven countries in the world is getting ready to issue IOUs beginning Thursday...(World News)
jar0fairWed, Jul 1st, 20091 Diggs, 0 Comments
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