Well, California will one day be sold to Russia (just kidding) because we can't seem to get it right. Once again, California is starting its fiscal year deeeeeeeeeeeeeep in the red. California plans to issue IOUs (or rain checks) to its creditors and employees of the state.

This means that people who work for the state and who have already done their work will not get paid for it until California fixes the budget deficit of nearly 30 million bucks!

Others that will be effected are people with welfare, cal-works, Medi-Cal (California provided medical insurance), SSI, and the portion of Social Security that the state pays (the rest comes from the feds).

California, for many many years, used to be the richest state...now it's known as the one with the poorest credit rating!


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