In California, grandma, the blind get IOUs; politicians get USD

As California is set to begin issuing IOUs instead of cash due to a budget crisis, Felix Salmon has a chart explaining who will keep getting paid in cash, and who will have to accept paper promises. Sadly, but not surprisingly, politicians and judges will continue to get greenbacks, while the poor, elderly, and disabled will have to learn to deal with California's new "currency."

Estimates put the total IOU payments in July at $3.35 billion, with the majority going to the Department of Social Services for assisting the aged, blind, disabled, and basic family needs. Vendors and those helping the developmentally disabled will also be major recipients of the IOUs.There is also $10.9 billion in additional July spending that is mandated to be paid in cash by a combination of Constitutional, Court, and Federal laws (including the salaries of legislators and judges), that the legislators haven't yet found funding for.