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CA Budget Breakout Session

“The most astounding provision I’ve heard of late is the ‘savings’ realized by delaying July Medi-Cal payments into August. Not only is this a mere accounting gimmick, but it also imposes a fine of $40 million on the state that goes to the federal governmet as part of the ARRA ‘timely payment’ clause. Lawmakers could probably go to a Pay Day Loan Shop and get a better interest rate than that!”

-Jean Ross, California Budget Project