California's IOUs

Matthew Hoy
By Matthew Hoy on January 8, 2009

Thanks to the Los Angeles Times, we have the number I was curious about last week.

Among the first to get IOUs instead of payments would be business and individual taxpayers who are expecting refunds, local governments and recipients of grants from the California Student Aid Commission. Last year, more than 10 million taxpayers received state refunds totaling $8 billion.

Adjust your withholding. You may be able to stomach giving the politicians in Sacramento the interest on that money gratis, but now you're giving them the interest and the principal.

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Hey @PolitiFactBias and @zebrafactcheck, is Newsweek an IFCN member? I was looking in the IFCN site earlier and didn't see a list of approved affiliates or whatever they call them.

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