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: Calculated RiskSchwarzenegger orders furloughs, California may start issuing IOUs in August
By Anonymous
[Gov. Arnold Schwarzenegger's] new executive order requires employees take three unpaid days off per month. But unlike that policy, it has no termination date: Furloughs will end when lawmakers pass a 2010-11 budget.And the beat goes on ...
...
The governor made the decision this week after Controller John Chiang said that unless lawmakers enacted a budget soon, the state's cash would go into the red by October. Chiang said he'll start issuing IOUs in August or September to conserve funds as long as possible.
Full post as published by Calculated Risk on July 28, 2010 (boomark / email).
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