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Time Running Out Sacramento, Locals Rally

Christina Heller

Story Created: Jun 30, 2009 at 5:41 PM PDT

Story Updated: Jun 30, 2009 at 10:39 PM PDT

Ventura, CA-- California's new fiscal year starts at midnight and still no budget signing in sight.

State lawmakers are trying to close a $24 billion budget deficit before midnight when the state will begin draining its treasury.

if an agreement can't be reached, IOU's will be issued as soon as Thursday to state contractors, welfare recipients, college students, the elderly and the disabled.

The budget crisis has inspired a number of people for and against cuts to speak out.

One of those groups rallied Tuesday morning in Oxnard.

KEY News Bureau Chief Tracy Lehr was there.
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