Sunday, June 14, 2009

Gullovornya

IOUs may be on their way.

But they've been unable to mend a $24 billion rip that has appeared in it since then – and that could cause as much trouble as if they were still squabbling over the budget itself.

That's because without a budget patch in place by the end of this month, state finance officials say there's a chance state government might have to do what it hasn't done in 17 years: issue IOUs instead of paying its bills.