The question is whether or not the banks will accept the IOUs. If they don’t and the County has to hold them, our county is looking into whether we can also issue our own IOUs to vendors and welfare recipients. Although the county will be given IOUs by the state, it will still have to pay payroll with real money. Programs such as mental health, public health and social services are state programs administered and delivered locally by county government under a contract. If limited money is going to float the state through IOUs, we need to guard the little cash we have to sustain core services, such as public safety.
Otherwise, we will have to consider payment by IOUs a nullification of the contract and turn the programs back to the state.
If limited money is going to float the state through IOUs, we need to guard the little cash we have to sustain core services, such as public safety.
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Frankly, I do not think the liberal socialist mindset is that deep thinking. They are so committed to their empowerment, they really do not care who or what they hurt...the deficit is solid testimony to that fact. Washington is no different now, albiet far more radical.