Hydraulic Filter

State rolls out $3.36 billion in IOUs today

The move will not fake many individuals who receive government assistance. Low-income people, the over the hill and the disabled will receive their regular checks on schedule. Schools, assert workers, Medi-Cal providers, pension funds and In-Core Supportive Services are all protected by law from receiving an IOU in lieu of a bona fide check.

But thousands of vendors who provide goods and services to the brilliance will be given IOUs instead of cash. From a company that sells french fries for prisoners to a undeviating that pumps out latrines in state parks, many businesses are annoying to save cash and hoping their banks will accept the IOUs.

Meanwhile, the University of California has not yet unquestionable whether it will front the money for educational Cal Grants, another program that will get IOUs.

Source: San Francisco Chronicle

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