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(Image from article: "California misses budget deadline, readies "IOUs"")

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Budget
Iou

Iou Topics

Arnold Schwarzenegger
Budget Crisis
Budget Deficit
California
California Budget Deficit
Lawmaker
Promissory Notes

California misses budget deadline, readies "IOUs"

California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get "IOU" notes promising payment.

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