I don’t know why this hasn’t been brought up in any of the California budget news that I’ve seen. The state of California is issuing IOU’s instead of paying people and companies. I’m no lawyer, but that practice obviously (it’s obvious to me anyway) violates the US Constitution. Article I, Section 10, titled “Powers prohibited [...]
Filed under: Economy, Political | Tagged: california, Constitutional Law, taxes, US Constitution | 1 Comment »