OK guys…this week is when the stuff really hits the fan at the state Capitol. Wednesday is Judgment Day, as with no budget July 1, Controller says IOUs are coming starting Thursday. So if the state owes friends or loved ones any cash…and you’re expecting some of it…you better get it quick. At this point…I see almost no chance of a balanced budget in place by then. What’s next? Almost certainly the state will hit the cash flow wall soon as well. Simply no way to pay bills unless they can borrow money… which ‘aint gonna be easy with no spending/revenue plan in place that lenders can believe in. Lots of bean counting tricks being floated under The Dome, but none solve the problem…and most now believe next fiscal year will be even worse.
Tags: budget, California, citizen voice, controller, crisis, gary dietrich, legislature, Politics, state
