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Controller: State risks $2.7 billion more in unpaid bills without budget

As the California budget impasse enters its fourth month, State Controller John Chiang's office has estimated that he will be legally unable to pay another $2.7 billion in state bills in October with a spending plan.

The report was posted on his website.

More than $6.3 billion in bills went unpaid in July, August and September, Chiang has estimated.

In addition, billions more in IOUs loom as a possibility this month. Chiang said in early September.

Gov. Arnold Schwarzenegger and top lawmakers announced a "framework" of a budget accord last week, but closed-door talks since have produced no significant movement. The leaders are gathering again Friday afternoon in hopes of sealing a budget deal that then must be approved by two-thirds of both the state Assembly and Senate.

--Shane Goldmacher in Sacramento

twitter.com/ShaneGoldmacher

 
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