CNBC just published With No Budget, California to Cut 20,000 State Jobs stating that:
California, which is on the brink of running out of cash, will notify 20,000 state workers on Tuesday their jobs may be eliminated, a spokesman for Governor Arnold Schwarzenegger said on Monday … To conserve cash, the state has stopped public works projects, furloughed state employees for two days a month and postponed sending out tax refunds.
This is what happens when you have the Terminator become your governor. Also note the California government is postponing sending out tax refunds. What does this mean? This means, first, hurry and file your tax returns. Second, update your W-9 form from your employer so add additional allowances. You should be tweaking your W-9 every year so that you should be getting a tax return close to zero as possible.
On 1/5/2009, I posted State of California Has No Money. May Issue IOU! which gave warning to this.
