California Is Quickly Running Out of Cash

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In Sacramento, there's still no indication that the Governor and the Legislature have completed this year's budget, much less determined how to overcome a $40 billion deficit over the next 18 months. But the bad news keeps on coming. Today, the Legislative analyst said IOU's may have to be issued in just three weeks. Michael Cohen is Deputy Legislative Analyst.

Credits

Guest:
Michael Cohen - California Legislative Analyst's Office

Host:
Warren Olney

Producers:
Sonya Geis, Andrea Brody