15 states have collectively borrowed more than $15 billion and another 9 states are in the red over unemployment benefits. . Please consider Jobless claims put state in debt
North Carolina's high unemployment rate has stuck the state with $1.4 billion in debt - money that officials don't know how they'll pay back.
It gets worse. The debt is still rising. The problem is that with about 500,000 people out of work, the state has more unemployment claims than it can pay. So it has been borrowing from the federal government since February, sometimes as much as $20 million a day.
The tally will rise to at least $2billion by the end of the year, said David Clegg, deputy chairman and chief operating officer of the N.C. Employment Security Commission. Next year, depending on the economy, could add another $2 billion to the tab, he said.
For purposes of comparison, the state budget for the current fiscal year is $19 billion.
Let's do the math. The state budget is $19 billion. Potentially $4 billion will be borrowed to pay unemployment benefits. In other words the state is borrowing an amount equal to 21% of its total budget just to pay unemployment benefits. Wow.
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Prepare for the Great Depression.
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According to my TV news, the economy is coming back and unemployment is going down. Obviously this article is authored by Al Qeda Terrorist. Once we get our 30K more troops in Afghanistan, we will see these type articles disappear.
ReplyDeleteObama is doing an excellent job and has brought about real change. Anyone who disagrees is a terrorist and should be sent to our Guantanamo facility for reeducation.
We should be worrying about real issues like Global Warming. We are destroying our planet with CO2 and US citizens should be ashamed of themselves for destroying our planet with CO2
If all adults in the US would take cold showers for the next 5 years, and pay their carbon taxes, our country and planet might survive.
And don't forget all those poor drowning Polar Bears!
Go Cowboys!
"A great civilization is not conquered from without until it has destroyed itself from within" - Will Durant
ReplyDeleteWe have let liars and criminals openly take over our goverment 100%. They have always had great influence, but now they have total control.
We are screwed. No help. The only thing you can do at this point is take care of yourself and stop focusing on nationalism and other scripted social structures. Cast aside all the systems of control that have been put in your path to bind you.
51% percent of Americans support sending thousands of troops to Afghanistan to kill brown people that never did anything to us. To secure gas/oil routes and the poppy fields.
ReplyDeleteThis, while we are right in the throws of financial collapse. This is the height of human ignorance. Just disgusting.
1:38 thats because mainstream news, owned and operated by the "Administration", manipulated the figures. You know, sort of like the elections? A poll should be put up here to see the real figures. Probably 90/10 against?
ReplyDelete12 trillion in the hole (actually much more in debt) with the amount increasing exponentially and we are so arrogant and foolish that we are still acting like the Roman Empire of our day.
ReplyDeleteYeah. Like REAL polls showed the 96% of Americans were against the bankster 700 billion initial bailouts. Proof positive that what the people want means nothing, zip, nada.
ReplyDeleteAmerica is collapsing under our feet
ReplyDeleteyou can feel it in the street
you go outside and see no more smiling faces
you can see it in everypersons places
America has been lead down the path of destruction
none of these in our government support contruction
they're all sold out to a player in world politics
the only place of peace anymore is the sticks
Well said 7:17
ReplyDeleteHere is some better poetry for you:
ReplyDeleteLive the civilized life
Died a civilized death
Be a tame slave
Love your master to the grave