The state controller announced yesterday that IOUs, that had been anticipated for earlier this month, may be issued next month instead. Controller John Chiang announced that August cash totals were sufficient enough to remove the immediate threat of IOUs until early October, if the state should continue without a budget. After 3 months without a spending plan, Chiang urges the governor and lawmakers to break the budget gridlock as California continues to deal with an estimated 19-billion dollar budget shortfall.
