Lounge of Tomorrow - California controller to suspend various payments

Lounge of Tomorrow (http://74.208.121.111/LoT/index.php)

- Daily Grind (http://74.208.121.111/LoT/forumdisplay.php?f=18)

- - California controller to suspend various payments (http://74.208.121.111/LoT/showthread.php?t=9099)

BarTopDancer

01-18-2009 08:51 PM

California controller to suspend various payments

Including tax refunds, welfare and student aid.

Story here.

Quote:

The payments to be frozen include nearly $2 billion in tax refunds; $300 million in cash grants for needy families and the elderly, blind and disabled; and $13 million in grants for college students.

Even if a budget agreement is reached by the end of this month, tax refunds and other payments could remain temporarily frozen. Chiang said a budget deal may not generate cash quickly enough to resume them immediately.

Not all payments will stop Feb. 1. Most school and healthcare programs will be paid, as required by state and federal law. The state will continue to pay more than $6.6 billion in such bills.

Ghoulish Delight

01-18-2009 09:47 PM

If I'm not getting a refund, can I mail the f*cks an IOU?

CoasterMatt

01-18-2009 10:09 PM

I'm ok with IOUs, provided they incur penalties and interest.

Alex	01-18-2009 10:14 PM

If you get an IOU, are they transferrable? If so, that might be some action I'd be willing to get in on.

wolfy999

01-19-2009 02:53 AM

No problem there....but can I suspend my payments to them for the reason of lack of funds also? Humm....

lizziebith

01-19-2009 03:08 AM

We got IOUs in the 80s. Landlords even honored them (then). There were also major upheavals in the 90s when I worked for the State. It seems like this happens a lot here and people get outraged for a few weeks.. Why are people surprised now? Am I just old? I guess so...when I saw this topic I thought it was about a time long ago. Like: look at how wacky things used to be. Well: Plus ça change, plus c'est la même chose :) I think we should not fret. It will be okay.

wolfy999

01-19-2009 03:45 AM

Nobody's surprised I'm sure, but we'd like to be given the same opportunity as they have!

Kevy Baby

01-19-2009 06:39 PM

If you are issued an IOU from the state, you will make as much as 5% on that IOU - far better than you can get anywhere (legally) right now. One source.
If you are unable to pay your taxes, you can effectively issue the state (and the Fed) an IOU. Just like the state has to do, you have to eventually pay that IOU with interest (as the state is doing - see above).

All times are GMT -7. The time now is 01:53 PM.