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