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Missouri Unemployment Fund Close To Broke
Ozarks First.com ^
| Friday, Jan 30, 2009
| None Listed
Posted on 02/02/2009 10:50:28 AM PST by Mad Dawgg
With Missouri's jobless rate at 7.3%, the fund that pays unemployment benefits will be broke in two weeks.
The unemployment trust fund has about $37 million dollars in the bank and it pays out around $20 million dollars a week.
But, the state tells Ozarks Fox the federal government will allow it to borrow up to $260 million dollars for the unemployment fund through April.
That means there won't be a delay for anyone receiving unemployment benefits.
TOPICS: Business/Economy; Front Page News; Government; US: Missouri
KEYWORDS: bailout; economy; layoffs; missouri; obamanation
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Just saw this mentioned on Fox News. Its the only source on the Web I can find ATM.
IIRC this is the second State claiming such problems with Unemployment Insurance Payouts.
1
posted on
02/02/2009 10:50:28 AM PST
by
Mad Dawgg
To: Mad Dawgg
Who they gonna borrow from?
Oh, forgot about the Washington DC Infinite Money Tree.
2
posted on
02/02/2009 10:52:26 AM PST
by
Da Coyote
To: Mad Dawgg
Voted for The Messiah, didn’t they? Just call for divine intervention.
3
posted on
02/02/2009 10:53:45 AM PST
by
pabianice
To: Mad Dawgg
If they’re having problems now, just wait!
Obama said it could take years to fix the financial system.
I guess I should expect a sharp increase in the unemployment insurance rates. (OH)
4
posted on
02/02/2009 10:54:02 AM PST
by
griswold3
(a good story is more compelling than the search for truth)
To: pabianice
Actually, Missouri is one of a handful of states that voted for McCain.
To: pabianice
Missouri voted for McCain by a slim margin.
6
posted on
02/02/2009 10:57:30 AM PST
by
Gypssy
(Smart, Womanly & Conversative! :-)~~~)
To: Mad Dawgg
I wouldnt be surprised if other states soon have similar problems with their unemployment fund
Scary thing is that if employers have to cough up more money...then there will be more job losses
7
posted on
02/02/2009 10:58:16 AM PST
by
UCFRoadWarrior
(The UnHoly Grail of Anti-Americanism: Illegal Aliens, Globalism, Free Trade, WTO, UN,)
To: Mad Dawgg
Question: what happens when the Federal government ultimately runs out of money to bailout the states and meet its own entitlement payments?
8
posted on
02/02/2009 11:01:51 AM PST
by
Zeddicus
To: Zeddicus
"Question: what happens when the Federal government ultimately runs out of money to bailout the states and meet its own entitlement payments?" If you own a printing press and make the laws you never run out of currency.
(Of Course that currency may become worthless, but you will never run out of it!)
9
posted on
02/02/2009 11:05:10 AM PST
by
Mad Dawgg
("`Eddies,' said Ford, `in the space-time continuum.' `Ah,' nodded Arthur, `is he? Is he?'")
To: Mad Dawgg
Google news: Unemployment Insurance Fund
(Hint: they’re all broke)
10
posted on
02/02/2009 11:05:57 AM PST
by
xcamel
(The urge to save humanity is always a false front for the urge to rule it. - H. L. Mencken)
To: Mad Dawgg; 1stMarylandRegiment; 47carollann; A Citizen Reporter; A Cyrenian; adrian; AFLoggie; ...
Missouri ping
Low volume ping list
FReepmail me to be on, or off, this list.
11
posted on
02/02/2009 11:07:24 AM PST
by
Just another Joe
(Warning: FReeping can be addictive and helpful to your mental health)
To: Mad Dawgg
"But, the state tells Ozarks Fox the federal government will allow it to borrow up to $260 million dollars for the unemployment fund through April." What happens after April?
12
posted on
02/02/2009 11:07:28 AM PST
by
blam
To: Mad Dawgg
What’s the big deal???? New York’s fund has been broke for months!
13
posted on
02/02/2009 11:07:44 AM PST
by
PGR88
To: Mad Dawgg
No worry, Claire is some kind of insider in Obama’s circle. (I think she swabs the toilet)
14
posted on
02/02/2009 11:13:33 AM PST
by
listenhillary
(Rahm Emmanuel slip - A crisis is a terrible thing to waste.)
To: Mad Dawgg
Unemployed citizens need only call Obambi who promised to pay our mortgages and buy our gas according to that Florida woman said so..
15
posted on
02/02/2009 11:13:38 AM PST
by
xtinct
("There's a sucker born every minute." P.T. Barnum)
To: Mad Dawgg
Things are reportedly so bad in Missouri that, except for the first time filers’ phone line, the Missouri Department of Labor has simply quit answering the phones on Tuesdays and Thursday in order to try to find time to catch up on the backlogs of paperwork.
16
posted on
02/02/2009 11:14:44 AM PST
by
Mojave
(Own a pit bull; own the consequences.)
To: Mad Dawgg
My neighbor (who was out of work 2 months as of mid December) told me he would stop looking for work during Christmas to spend more time around the house. He liked the ability to get things done. On February 1st I asked how the job hunt was going and he told me he was in no rush as unemployment benefits were being extended again. His wife chimed in “I figured with a few cutbacks in what we spend, I could stand to lose my job as well and we can still make our house and boat payments with what we would get from unemployment insurance”.
17
posted on
02/02/2009 11:17:43 AM PST
by
icwhatudo
(Still a proud member of the VRWC)
To: Mojave
My family in Mo. still working. My 18 year old grandson just hired by Canadian Pacific RR, will start conductor training early March.
We are blessed.
18
posted on
02/02/2009 11:19:11 AM PST
by
BARLF
To: Mad Dawgg
I guess they can hand out I.O.U.’s
19
posted on
02/02/2009 11:20:03 AM PST
by
Sig Sauer P220
(There ought to be one day -- just one -- when there is open season on Senators --- Will Rogers)
To: Mad Dawgg
Other than a bump around 2000-2001, unemployment has been very low for almost 20 years. Did states lower their premiums to match a lower baseline of unemployment rates, or did they just piss away 20 years of surpluses?
20
posted on
02/02/2009 11:20:30 AM PST
by
KarlInOhio
(On 9/11 Israel mourned with us while the Palestinians danced in the streets. Who should we support?)
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