Relevant:
- Facing Budget Gap, Schwarzenegger Urges Lawmakers to Bridge Divide
- JPMorgan to Lend California $1.5 Billion to End IOUs
- California prepares to stop paying bills
- California May Pay With IOUs, Minnesota $5.2 Billion in the Hole
- Schwarzenegger Orders 200,000 State Workers be Paid Minimum Wage, State Controller John Chiang Refuses to Comply
2010-08-12 — nbclosangeles.com
``State Controller John Chiang said Tuesday that without a state budget, California's government would be unable to pay its bills in late August (or maybe early September). That means issuing IOUs to some people. Possible dates for IOUs could be either Aug. 27 or Aug. 31, when big payments to schools are due, according to this schedule on the controller's website.''
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