This Just In...California to Pay Debts with Monopoly Money

Ever wish you could pay all of your bills with IOUs? Apparently if you’re the State of California you can do just that. California Controller John Chiang announced last Friday that the state will be suspending payments due to a lack of funds and that if no money is available by March or April California will be sending IOUs in lieu of tax refunds, welfare checks, disability checks, aid for the needy and disabled, and student grants, among other payments.

So, if you live in California that sucks. If you live in one of the other 49, it might be a good idea to file your taxes sooner rather than later.

Source: LA Times http://www.latimes.com/news/local/la-me-budget17-2009jan17,0,4472460.story