Posted on 12/16/2008 7:07:27 AM PST by pabianice
Per Fox News a minute ago... 30 states have emptied their unemployment insurance funds by spending it on liberal social programs.
This seems huge; as many more people lose their jobs, there is no money to pay them the unemployment insurance they and their employers paid into the system every week. The states obviously will demand a bailout from Congress -- we're talking hundreds of billions of dollars here in total -- with the disastrous results that entails.
Welcome to Obama's America.
Put the State treasurers in jail.
Any list of the 30 States?
This is not “O’s” problem. He won’t fix it but, this is a state issue.
I’ll ask Arnold what is going on in California.
The “crap sandwich” just keeps coming. Rush is correct....we are all in a giant sitcom and God is having a great laugh.
The last time I got a statement of what is in my unemployment reserve account I couldn’t believe how much had been taken to help run the unemployment program. You know, pay for unemployment workers, health care for unemployment workers, pension plans for unemployment workers, nice cars etc.
NJ is the poster child for this behavior. Our unemployment coffers are empty, now they want to raise business owners contributions in addition to begging the Fed’s for a bailout.
Seems criminal to me.
Well, the good news is that 27 states didn’t do it.
Ponzi schemes.
Oh, c’mon. Just gotta find the key to the unemployment insurance lockbox. The funds are at the bottom of the lockbox, hidden under the dust and cobwebs.
How can they legally divert funds? Oh wait, this is the gubmint.
These stories will get worse every week until we beg Washington for CHANGE that will save us.
Saul Alinsky said that you must prepare The People in advance so that they will accept the Change you offer, even beg for it.
Save us, Obama! What economic policy do you have that can end these frightening news stories?
Why is this a problem. The Democrates changed the rule for SS years ago and have been spending the SS surplus on anything they choose.
Holy CRAP!!!!
Unemployment is going up up up and they won’t be able to pay people?
Depression, here we come.
We all knew government corruption exists,but there seems to be massive swindling going on over the past few months. The TARP robbery and now this?
Man.
It’s a big problem in NJ. They story here broke last week. The people up in Trenton have been diverting unemployment funds into the state hospitals for the past decade.
jail
And states who “won” their tobacco lawsuits (like mine) have been spending that money on everything but the healthcare they said it would be used for....
Over half the states had already cut spending, used reserves, or raised revenues in order to adopt a balanced budget for the current fiscal year — which started July 1 in most states. Now, their budgets have fallen out of balance again. New gaps have opened up in the budgets of at least 37 states plus the District of Columbia after they struggled to close the largest budget shortfalls seen since the recession of 2001. And these problems are expected to continue into next year.
Current estimates are that mid-year gaps total $31.2 billion — 7.2 percent of these states’ budgets — but they will almost certainly widen as the continuing economic turmoil causes revenues to come in below estimates in more states.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.