1.0link223684<![CDATA[California Misses Deadline, May Now Have To Issue IOUs]]>http://www.huffingtonpost.com/2009/07/01/california-misses-deadlin_n_223684.htmlSACRAMENTO, Calif. — States from coast to coast began a new fiscal year Wednesday with no budget plans and with cash quickly running out, sending some to the brink of shutdown and forcing others to furlough workers and cut services.
In California, Gov. Arnold Schwarzenegger declared a fiscal emergency and ordered state offices closed three days a month to save money as the state sank deeper into dysfunction. State officials plan to pay bills with IOUs starting Thursday.