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IPFS News Link • Economy - Economics USA

California Misses Budget Deadline, Readies "IOUs"

07-01-2009 • CNBC.com

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

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Reported By Jack Gregson

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California Misses Budget Deadline, Readies "IOUs"

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