Posted by: drgeophysics | July 1, 2009

Multiple states have no budget today.

In a situation unknown since the Great Depression multiple states do not have functioning budgets. One has passed a budget with $0 allocated to it’s Utility Commission.

Here is a news briefing by Mr. Todd Haggarty, research analyst with the National Conference of State Legislatures.

Here is a brief article.

Straight out of “The Grapes of Wrath“:

The US state of California is on the brink of issuing IOUs instead of making direct payments, after lawmakers failed to agree on ways to balance the budget.

Here is the BBC report.

How odd can this get? Consider this:

British Airways has said 800 workers have volunteered to work for nothing for up to a month, following the airline’s request to cut costs.

Here is the article.

California has led the United States with respect to political directions. However this is solved in California will probably be followed by most other states.

In my lifetime I have never seen such financial chaos.

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