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California Government Missed Budget Deadlines |
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Written by The News Agent
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Wednesday, 01 July 2009 |
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With impending destruction to the entire state, it seems that due to the fact that lawmakers failed to reach a unanimous agreement on a balanced budget for the new fiscal year, the Californian government is now forced to issue IOUs to various agencies that they are working together with.
These IOUs mark for the first time in 17 years, that the government had to resort to such measures to stay afloat in their administrative tasks. In fact, Governor Arnold Schwarzenegger plans to send $3.36 billion in IOUs on top of $10.9 billion in other payments, to help the state stay afloat.
Can Arnold Schwarzenegger keep his Californian state alive?
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