Yay, in case you missed the first round (video), you could be next in line to get IOUs from the state controller, John Chiang.

State controller John Chiang warned today that if legislators and Gov. Arnold Schwarzenegger fail to come up with a budget-balancing package in the next week, he would begin paying California’s bills with IOUs on July 2. (SacBee 6/24/09)

Past is prologue I suppose, and here we are. Back at the start.