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California has enough cash to avoid issuing IOUs until at least October, state controller says

Sep 10, 2010 3:00:00 AM - latimes.com
As California concludes its 10th week of the fiscal year without a budget, Controller John Chiang credits an unexpected drop in state spending for a slight cash cushion.

California has sufficient cash in its dwindling treasury to avoid issuing IOUs until at least October, a reprieve from previous projections that the scrip was imminent, the state controller said Thursday.

USA, California: (Latest Stories)