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A 1st for California Since the Depression...

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As Los Angeles Mayor Villaraigosa spends his day in Washington D.C., asking along with peers from other cities for federal money to local entities and as the new State Legislature sits in their special budget session this afternoon, here's a sobering quote about how bad this recession has hit us: "California, the world’s eighth-largest economy, may pay vendors with IOUs for only the second time since the Great Depression." John Chian said that "we’re just barely hanging on right now... We need strong legislative action immediately.”