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State treasurer warns of IOUs if budget isn't passed soon

Jan 22, 2011 8:33:17 PM- latimes.com
Bill Lockyer, speaking at a conference, says California 'will run out of money to pay the bills' in April or May if legislators don't fix the state's dire fiscal problems quickly.

State Treasurer Bill Lockyer warned Saturday that California could face the unwelcome prospect of issuing IOUs in April or May if legislators and Gov. Jerry Brown do not act quickly to solve the state's fiscal problems.

USA, California: (Latest Stories)