Twenty-five US states are running out of federal funds to pay unemployment benefits to jobless Americans.
According to The Washington Post, currently 25 states have been forced to borrow USD 25 billion from the federal government to keep their unemployed a float.
The Department of Labor estimates that by 2011 some 40 states will have run out of employment money and will be in need of borrowing USD 90 billion from the federal government.
State authorities currently have two options: Raising taxes or shrinking aid payments.
However, government consultant Leonard Simon says the federal government must create jobs at the state level. "It is surprising to see how wide spread it is" he said.
LINK HERE
this statement in the article is not correct:
ReplyDeleteState authorities currently have two options: Raising taxes or shrinking aid payments.
California and other states have also reduced hours of the state workers or their job completely.
Are the States "Too big to fail?"
Wonder why the States have making resolutions concerning the 10th Amendment to the USA Constitution?
The Tenth Amendment restates the Constitution's principle of federalism by providing that powers not granted to the national government nor prohibited to the states by the constitution of the United States are reserved to the states or the people.
The powers granted to the Federal Government is LIMITED by the USA Constitution. In other words the States and the People have ALL POWERS not specifically granted to the Federal Govermnment.
The catch is what happens when the States run out of money? They cannot simply print money like the Federal Government thru the Federal Reserve can print money. So what are the States going to do? How will they use the 10th Amendment?
Very good observation. The Fed Fraud works against the states. Of course the Feds have always wanted to neuter the states from day one. It would be nice if there were only the states period.
ReplyDeleteThe USA as an entity will not exist in five years. Not a chance. It's time to fold up or burn the corporate flag.
ReplyDeleteI know that sounds crazy to most but that is what they thought about the USSR in the late 80s.
SO that is why our unemployement (SUTA) has went from $8 and change a year per employee to $99 and change a year per employee for 2010... Ya for us!!!! This is in Florida by the way, just got a notice last week.
ReplyDeleteTime to cut out the non performing employees......thanks Uncle Sam for encoraging it!
Actually, it seems to me that few really want to work at a job, unless it sits at a desk, doing nothing or next to nothing and drawing about $18.00 average an hour. Get jobless benefits instead and you just sit home. I am not talking about the sincere people who are really searching for some kind of a job, but those who sign up for the difference in what a job would pay and what "Unemp" bennefits would pay. The sincere people are hurt by not EARNING the money they have to live on, while the soakers are just wanting tomorrow's beer and taterchip funds. For years on end, we have been taught to have an emergency fund, in addition to savings to tide us over in the event of job losses. Few acted on that invaluable advice. Instead of planning for an emergency, we have spent ourselves into a black hole, no safety funds, no savings, just DEBTS to pay. Now thanks to a mox-nix of reasons(everything from the big banks to the individual citizen fraud and greed) we have toppled our small businesses, created layoffs, created bankrupt status of larger businesses, created business closures due to lack of profit margins, and put ourselves in the sewer financially. Now the States, who must administer the unemployment benefits to a tune they never planned for, are going dry. I cannot speak for everywhere in the US, but I can speak for where I live. There are several jobs going unfilled, due to a lower pay for them, and nobody wanting to work for it, when they can suck up government money. Also, in the last two months I have had two job ads out, and have tried to hire for two locations I manage. For the few that did answer the ads, I may as well have driven around and picked up the first street people I saw. Applicant quality---well it wasn't. Their attitude was the crap with what I can do you for---what can you offer me? My reply in every case: Nothing. I told one seedy, dirty, foul mouthed applicant: "I am going to get a drink of water, when I come back you won't be here". When I came back he was gone.
ReplyDelete@11:28am
ReplyDeleteYou are right, buddy. If you only knew what is going on with your country. Some say that the Soviet people were brainwashed. It appears they were less brainwashed than Americans. At least they see what is going on. What you see now is just symptoms of a decease or infection that happened earlier. Just like with decease there is no way you can roll back and start again well prepared. It has go through it's course. Some infections kill the host, in some cases the host will survive, but will have some limbs amputated. So is going to be with your country. But have you asked yourself a question-what kind of infection ruined my country? If you start thinking the answer will be obvious. What ruined the Russian Empire? Infection called communism lead by Bolshevik Jews. What happened in the early 90s in Russia? Communism fell, but the power was taken by the Jews again. Almost all oligarchs, media, central bank is in the hands of Jews? Who came to power in France? A Jew. Who is his finance minister? A Jew. How come, the national elite in almost all Christian countries is made up of Jews? For some reason it is not the Lithuanian oligarchs in Russia, or Ukrainian, or Japanese – it is Jews. How come the Obama's cabinet and “advisers” are almost all Jews? Do you see Russians or Finns there? No. Do you think it is possible to appoint a former Serb military officer and Serb citizen as a chief of staff in the White House? No. But if it is a Jew-no problem. Is the picture clear now? They conquered your country, milked it completely, transferred their capital out of the country (listen to Kathrine Austine Fitts interview to Alex Jones that she gave in the last 2 months) and now they want to control the demolition. Go prove me wrong!
For those who will start screaming about the above post is made by “Antisemite” here is the link to a website of a Semite, but not manipulating and thieving bastard, honest Jew who understands how things work: http://www.rense.com/Datapages/gatzmondat.htm
ReplyDeleteJust got letter in mail today from PA unemployment, they will be reducing benefits by 2.3% ending January 2, 2010 and after because their UC Trust Fund Balance fell below 'a certain level' which is code name for oh shit - we don't have any money
ReplyDeleteFew stats on unemployment & California:
ReplyDeleteTotal borrowing in December was 102% increase over November. Cali borrowed over $1 billion in December...roughly 50% of their sales tax revenue for the month.
http://yophat.blogspot.com
To 12:46, don't be so judgemental.
ReplyDeleteSome people choose not to accept a lower paying because gas costs money to get to work. What is someone on unemployment works a job that pays less and then because of gas costs they can't feed themselves or their family? Ever know what it feels like to starve? I am sure there are some who can tell you.
Also, sometimes taking risky jobs is a RISK, period. If you take a job that is not stable, you may get laid off again and then not get ANY benefits AT ALL because you did not work at the job long enough.
Get off your freaking high horse and get real.
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