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Bailout
: Calculated RiskCalifornia: 14 hours and counting to IOUs
By Anonymous
Despite a deadline looming tonight, Gov. Arnold Schwarzenegger and the Legislature were at a loss Monday over how to close the state's massive deficit, and there were no signs a compromise would be reached soon.Will retailers accept IOUs?If no plan is adopted by 12:01 a.m. Wednesday, the state plans to issue IOUs to contractors, vendors, local governments and taxpayers expecting refunds beginning Thursday. The governor plans to force 220,000 state workers to take a third unpaid day off beginning in July ...
Full post as published by Calculated Risk on June 30, 2009 (boomark / email).
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