Stuff hitting the fan: state unemployment funds drying up

[lynnf]

More on the perfect storm going on: banking crisis, government mismanagement, etc. Thank you, incompetent politicians!


http://www.cnn.com/2008/US/10/08/jobless.claims/index.html

Some state unemployment funds drying up

...

Economists blame the situation on the failure of states to beef up their reserves when the economy was in better shape.

"When times were good, instead of putting money into a trust fund, lawmakers gave in to anti-tax fervor and refused to raise taxes to build up a healthy trust fund," said Ross Eisenbrey, vice president of the Economic Policy Institute. "Now, as payrolls decline and tax revenue declines, there is less money going into funds that were already running low."

...


lynn

[tremendoustie]

More on the perfect storm going on: banking crisis, government mismanagement, etc. Thank you, incompetent polititians!


http://www.cnn.com/2008/US/10/08/jobless.claims/index.html

Some state unemployment funds drying up

...

Economists blame the situation on the failure of states to beef up their reserves when the economy was in better shape.

"When times were good, instead of putting money into a trust fund, lawmakers gave in to anti-tax fervor and refused to raise taxes to build up a healthy trust fund," said Ross Eisenbrey, vice president of the Economic Policy Institute. "Now, as payrolls decline and tax revenue declines, there is less money going into funds that were already running low."

...


lynn

Yeah, I live in CA, so Ross's diagnosis is B.S. at least here. When times are bad, they increase taxes, then when times are good they increase spending. The problem is too much government, not too little money for the bureaucrats ...

[Johnnybags]

are huge, the states will by law have to borrow from the Federal government. The Federal government is broke so its more printing. The Dems will keep insisting on benefits extensions and since they hold both houses and likely the Presidency the benefits are likely to be extended to two years. The Federal government will be directly printing money to millions for 2 years straight to the detriment of future taxpayers of the states.

[libertarian4321]

Congress authorized a three-month extension to unemployment benefits a couple of months ago, that sure as heck didn't help.

[JaylieWoW]

Yeah, I live in CA, so Ross's diagnosis is B.S. at least here. When times are bad, they increase taxes, then when times are good they increase spending. The problem is too much government, not too little money for the bureaucrats ...

QFT!! I was thinking what planet does this asshat live on? I think I'm going to have, "IT'S THE SPENDING, STUPID!" tatooed to my forehead. Sheesh.