SRSLY?! California is Issuing IOUs?


The State announced this morning that it’s taking a genuine, depression-style approach to paying back its debts. According to the LA Times :

With budget negotiators at a loggerheads and California government facing a cash crisis, the state controller’s office will start printing IOUs this afternoon for the first time in 17 years. The presses are set to start at 2 p.m., churning out 28,742 IOUs worth $53.3 million that will be dispatched mostly to residents throughout the state still awaiting their income-tax refunds.

IOUs, eh? I didn’t realize those actually existed. At first what what’s happening here appears outragous, but this SRSLY certificate actually goes to the state’s inhabitants. SRSLY guys, you didn’t want to pay more taxes to balance the budget? Well guess what, the government doesn’t want to pay tax returns.