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Old 12-15-2008, 04:32 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,299 posts, read 12,533,368 times
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By JENNIFER STEINHAUER

Published: December 14, 2008
With unemployment claims reaching their highest levels in decades, states are running out of money to pay benefits, and some are turning to the federal government for loans or increasing taxes on businesses to make the payments.

Thirty states are at risk of having the funds that pay out unemployment benefits become insolvent over the next few months, according to the National Association of State Workforce Agencies. Funds in two states, Indiana and Michigan, have already dried up, and both states are borrowing from the federal government to make payments to the unemployed.

Moderator cut: copyright issues

Remainder of article at http://www.nytimes.com/2008/12/15/us...s.html?_r=1&em

Last edited by Marka; 03-11-2010 at 10:32 AM..
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Old 12-15-2008, 06:33 PM
 
19,084 posts, read 20,635,049 times
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Yes, they are... don't worry though, they can borrow from the Federal Government which in turn will either ask to borrow more money from the Chinese or ask the Federal Reserve to print more money to give to them... instead of solving the problem of unemployment, they are making the situation even worse... can the government get any more stupid? Obama has suggested creating jobs with infrastructure (which is sort of a good idea) but there are problems with that too... I hope he prepares ahead to prevent those problems from emerging but somehow I doubt it.. its more do it first and think about it later (like most politicians)...
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Old 12-16-2008, 02:28 PM
 
673 posts, read 2,501,423 times
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Help employers. Or at least don't run them out of the country or into the ground.
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Old 12-16-2008, 03:15 PM
 
24,839 posts, read 33,298,091 times
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Quote:
Originally Posted by aaauger View Post
Help employers. Or at least don't run them out of the country or into the ground.
I 100% agree!!!
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Old 12-16-2008, 03:30 PM
 
Location: Orlando, Florida
43,857 posts, read 45,499,500 times
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I'm surprised they didn't raise the required contribution amount early on when all the lay offs after 9/11 with the extensions beyond the normal time limits had to give a red flag that more money was needed for future problems.
Here is a good explanation of how it all works as far as individual states borrowing.....
http://tinyurl.com/49fow
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Old 12-16-2008, 04:24 PM
 
8,648 posts, read 15,620,644 times
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Quote:
Originally Posted by evilnewbie View Post
Yes, they are... don't worry though, they can borrow from the Federal Government which in turn will either ask to borrow more money from the Chinese or ask the Federal Reserve to print more money to give to them... instead of solving the problem of unemployment, they are making the situation even worse... can the government get any more stupid? Obama has suggested creating jobs with infrastructure (which is sort of a good idea) but there are problems with that too... I hope he prepares ahead to prevent those problems from emerging but somehow I doubt it.. its more do it first and think about it later (like most politicians)...
Wont he (Obama) have to borrow more money from the chinese or print more money to pay for those jobs he is creating?
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Old 12-16-2008, 09:11 PM
 
Location: Marietta, GA
7,858 posts, read 15,194,376 times
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Quote:
Originally Posted by aaauger View Post
Help employers. Or at least don't run them out of the country or into the ground.
Tax cuts? There are two ways to move the curve...spend more or tax less.
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