Calif borrows $40M a day to pay unemployment

[WestVirginiaRebel]

SF Gate:

(11-07) 10:05 PST Los Angeles, CA (AP) --

With one in every eight workers unemployed and empty state coffers, California is borrowing billions of dollars from the federal government to pay unemployment insurance.

The Los Angeles Times reports that the state owes $8.6 billion already, and will have to come up with a $362-million payment to Washington by the end of next September.

The continued borrowing means federal unemployment insurance taxes are going to increase, upping the annual payroll costs $21 a year per worker.

California tops the list of 32 states that have borrowed a total of $41 billion to pay claims.

The state took out its first loan from the federal government early last year, to deal with rising payment of benefits and number of claims.
________

Gee, I wonder why they're out of work? Maybe because California's legislature is so hostile to those that might have given them jobs?

[Pepper]

Hey, you could take a short trip to India on that.

[Argyle58]

Hey, you could take a short trip to India on that.

 

Possible, if your entourage is only around 600 people.

[Pepper]

Argyle58!

 

 

And you stay at the Motel 6