I-O-U and U-O-Me and California Owes Everybody. The financial crisis in California has become so dire that the State Controller John Chiang has announced that he is going to start issuing IOUs. Will you or your local government be getting an IOU in the mail? We talk with John Chiang and get the answers.

Guests:

John Chiang, California State Controller

John Myers, Sacramento bureau chief for KQED's California Report