Budget update- state to issue IOUs

Download
July 2, 2009

Faced with a $26 billion deficit, state officials are set to begin issuing IOUs later today to pay for part of California's bills. Those on government assistance, including the elderly, disabled, and low-income individuals, will still receive their regular checks, while businesses with state contracts and taxpayers awaiting refunds are most likely to receive IOUs. Payments to state workers, schools, Medi-Cal providers, and other services are protected by law from receiving an IOU instead of a real check. As part of the budget crisis, Governor Schwarzenegger declared a fiscal emergency and ordered government workers to take a third unpaid furlough day each month. Larry Mantle gets the latest on the ongoing budget battle.

Also on this episode

AirTalk On The Road

Afghanistan: The Way Forward

More American troops and fewer predator drones? Should the Taliban have a stake in governing the country? And who should intervene in a flourishing opium trade? AirTalk goes on the road to stage our own Afghan summit and you're invited.

The event takes place at the Autry National Center, November 11 at 7pm. RSVP to AirTalk@kpcc.org.

Zev Yaroslavsky, Los Angeles County Supervisor representing the 3rd district.

Frank Stolze, KPCC reporter

Gary Toebben, President and CEO of the LA Area Chamber of Commerce

Julie Small, KPCC's State Capital Reporter

Comments disabled after 14 days