“I don’t know what’s going to unfold here, but it’s not going to be good,” Williams said.

ARIZONA Broke Within Weeks: To issue IOU’s
(SNIPPET)
“I don’t know what’s going to unfold here, but it’s not going to be good,” Williams said.

Arizona legislators have not been able to resolve the budget crisis, and our state could be weeks away from running out of money.
That means having to issue IOU’s to everyone.
And it’s not only state workers, but also those who provide services, such as child care centers.
For instance, about 70% of the children at Outer Limits School in Tucson get a state subsidy.

Owner Bill Berk said the crisis could be devastating to his industry.

“We can’t give our employees IOU’s for their paychecks. We can’t give the electric company an IOU,” Berk said.
Representative Williams hopes to be able to work something out with banks so they’ll accept the IOU’s, but he knows that can’t last forever.

http://thecomingdepression.blogspot.com/2010/01/arizona-broke-within-weeks-to-issue.html

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