Financial Times FT.com

Cancer patients to receive California IOUs

By Matthew Garrahan in Los Angeles and Nicole Bullock in New York

Published: July 8 2009 02:27 | Last updated: July 8 2009 02:27

Court-appointed lawyers, cancer patients and alcoholics in treatment programmes have become the latest victims of California’s financial crisis, as the state grapples with a budget deficit that has ballooned to $26bn.

The state has been forced to issue IOUs after starting its fiscal year with a huge deficit and no budget in place.

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