No Solution for California until Schwarzenegger Is Out

On Tuesday, California State Controller John Chiang announced that without a state budget, California's government would be unable to pay its bills in late August. That means once again issuing IOUs to some people. Possible dates for IOUs could be either Aug. 27 or Aug. 31, when big payments to schools are due, according to this schedule on the controller's website.

California began its fiscal year July 1 without a spending plan, as Schwarzenegger and Democrats remained deadlocked over how to best fill a $19.1 billion deficit. Closed-door negotiations haven't produced any compromise, prompting state Controller John Chiang to warn that he may need to issue IOUs again to pay bills this month.

Lyndon LaRouche said yesterday: Get the current Governor out of office. As long as he is there, there is not going to be a correction. Cut his salary. He has too much money, much more than is good for him.