Democratic controlled lawmakers and Republican California Governor Schwarzenegger have little hope to pass a state budget in the next few weeks as the world number six economy has run out of cash.
California Controller John Chiang issues warning that California cannot pay its bills by early September, reported nbclosangeles.com. The big item on the California cash register is huge checks to public schools which will start on one day after this year Labor Day on September 7.
The possibility to find a solution continue to grim as lawmakers and governor have failed to pass a state budget as both sides don’t agree on their demands during this summer.
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