Reality Check: Strapped States Cutting Unemployment Benefits
4th May 2013
After years of persistently high unemployment, states have drained their unemployment trust fund accounts.
The result is that states collectively owe the federal government $30 billion — money that they are now having to pay back with interest.
“States are forced to come up with all sorts of strategies to pay the money back, but they are also rejiggering their entire systems,” says Sujit CanagaRetna, a senior fiscal analyst with the Council of State Governments.
Funny how that works.