Will teachers get paid in time?

Maybe, according to the Sacramento Bee.

State Treasurer Bill Lockyer warned this week that Congress needs to put the nation's finances in order so the state can pay its bills in November for critical needs like teacher salaries.

Lockyer said the fiscal crisis may drain California's reserves by the end of October because the state can't sell bonds and short-term securities for cash flow needs.

"The credit market is frozen because financial institutions are afraid to commit capital amid enormous uncertainty," the treasurer said in a written statement.

"More urgently, because the state budget was so late, we have only four short weeks to complete what otherwise would be a routine revenue anticipation note sale to meet the state's cash-flow needs," Lockyer said.

Exhausting California's cash reserves would have dire consequences, he said.

"Payments for teachers' salaries, nursing homes, law enforcement and every other state-funded service would stop or be significantly delayed," Lockyer said.

"And California's 5,000 cities, counties, school districts and special districts would face the same fate."