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-California to suspend tax refunds/welfare checks/student grants-
-Edited/Summarized by 'Sweeps' Fox
*'Sweeps' NOTE:…Getting DEEPER in the 'Red' folks. This latest from the State Of California should wake up people…that we haven't seen even the Tip of this Recession/cum Depression yet, and WORLDWIDE. Have a read & check the Link. Thanks/'S'
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State Controller-of California U.S.A.- John Chiang announced today
that his office would suspend tax refunds, welfare checks, student grants
and other payments owed to Californians starting Feb. 1, as a result of the
state's cash crisis.
Chiang said he had no choice but to stop making some $3.7 billion in
payments in the absence of action by the governor and lawmakers to close the
state's nearly $42-billion budget deficit. More than half of those payments
are tax refunds.
The controller said the suspended payments could be rolled into IOUs if
California still lacked sufficient cash to pay its bills come March or April
'I take this action with great reluctance," Chiang said at a news conference
in his office. But he said that without action to close the deficit, "there
is no way to make it through February unscathed'.
The payments to be frozen include nearly $2 billion in tax refunds; $300
million in cash grants for needy families and the aged, blind and disabled;
and $13 million in grants for college students.
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*CLICK below for the full Article/LINK…not pretty. Get photos etc:
