From his hospital bed, Chiang orders state to prep for IOUs

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Controller John Chiang remains in a hospital in Fort Worth, Texas, where he has been recuperating since experiencing chest pains on Friday. 

Though hospitalized, he has not stopped tending to the state's dreadful fiscal condition. Today he issued a letter to state agencies, telling them to prepare to issue IOUs by Feb. 1.

First in line to receive the state's play-money will be Legislators and their staffs, who are used to not getting any salaries from July to about September, plus judges and other elected officials.

Next up will be taxpayers expecting a refund. That'll teach you to withhold too much.

All this could be averted if the Legislature and the governor somehow agree on a plan to close a $40 billion deficit. Don't hold your breath.
 

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This page contains a single entry by Gene Maddaus published on December 30, 2008 5:45 PM.

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