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Friday, July 3, 2009

California Budget: Oddsmakers Say 50-50 Chance; Place Your Bets Now, Win an IOU

Top California lawmakers raised hope on Thursday that an elusive budget deal could be at hand, as officials began issuing billions of dollars in "IOUs" to avoid a cash crisis on the second day of a new fiscal year without an agreement to balance the state's books.

"I think there is at least a 50-50 chance that we'll find a solution that is acceptable to all parties within a week," Assembly Republican Leader Sam Blakeslee said after the state Senate's top Democrat said Democrats would no longer hold out for tax increases as part of a budget agreement.

link: Hope for California budget deal as IOUs planned | U.S. | Reuters


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