32 States Have Borrowed From The Federal Government To Make Unemployment Payments; California Has Borrowed $7 Billion
Posted By thestatedtruth.com on May 21, 2010
Friday, May 21, 2010
EconomicPolicyJournal.com has learned that 32 states have run out funds to make unemployment benefit payments and that the federal governmant has been supplying these states with funds so that they can make their payments to the unemployed. In some cases, states have borrowed billions. As of May 20, the total balance outstanding by 32 states (and the Virgin Islands) is $37.8 billion.
The state of California has borrowed $6.9 billion. Michigan has borrowed $3.9 billion, Illinois $2.2 billion.
Below is the full list of the 32 states (and the Virgin Islands) that have borrowed from the Fed to make unemployment payments, and the amounts that remain borrowed as of May 20 . (Numbers in red are billions)
Alabama    $ 283 million
Arkansas      330 million
California       6.9 billion
Colorado     253 million
Connecticut   498 million
Delaware      12 million
Florida          1.6 billion
Georgia        416 million
Idaho           202 million
Illinois           2.2 billion
Indiana        1.7 billion
Kansas         88 million
Kentucky    795 million
Maryland    133 million
Mass.         387 million
Michigan      3.9 billion
Minnesota  477 million
Missouri      722 million
Nevada       397 million
New Jersey  1.7 billion
New York   3.2 billion
N.C.            2.1 billion
Ohio            2.3 billion
Penn. Â Â Â Â Â Â Â 3.0 billion
R.I. Â Â Â Â Â Â Â 225 million
S.C.           886 million
S.D. Â Â Â Â Â Â Â Â 24 million
Tennessee    21 million
Texas          1.0 billion
Vermont      33 million
Virginia     346 million
Virgin Islands 13 million
Wisconsin    1.4 billion
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Total       $37.8 billion
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