<![CDATA[California's Empty Wallet: Turning Crisis into Opportunity]]>

1.0 link 222622 <![CDATA[California's Empty Wallet: Turning Crisis into Opportunity]]> http://www.huffingtonpost.com/ellen-brown/californias-empty-wallet_b_222622.html "Our wallet is empty, our bank is closed and our credit is dried up."

- Governor Arnold Schwarzenegger, June 2, 2009

California State Controller John Chiang has warned that without a balanced budget in place by July 1, he will begin using IOUs to pay most of the state's bills. On June 25, California Governor Arnold Schwarzenegger rejected a plan that would save the state $3 billion by cutting school spending, saying he would rather see the state issue IOUs than delay...

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