Missouri Unemployment Fund Close To Broke

Ozarks First.com ^ | Friday, Jan 30, 2009 | None Listed

[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.

[Mad Dawgg]

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.

[Da Coyote]

Who they gonna borrow from?

Oh, forgot about the Washington DC Infinite Money Tree.

[pabianice]

Voted for The Messiah, didn’t they? Just call for divine intervention.

[griswold3]

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)

[Eric in the Ozarks]

Actually, Missouri is one of a handful of states that voted for McCain.

[Gypssy]

Missouri voted for McCain by a slim margin.

[UCFRoadWarrior]

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

[Zeddicus]

Question: what happens when the Federal government ultimately runs out of money to bailout the states and meet its own entitlement payments?

[Mad Dawgg]

"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!)

[xcamel]

Google news: Unemployment Insurance Fund
(Hint: they’re all broke)

[Just another Joe]

Missouri ping

Low volume ping list

FReepmail me to be on, or off, this list.

[blam]

"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?

[PGR88]

What’s the big deal???? New York’s fund has been broke for months!

[listenhillary]

No worry, Claire is some kind of insider in Obama’s circle. (I think she swabs the toilet)

[xtinct]

Unemployed citizens need only call Obambi who promised to pay our mortgages and buy our gas according to that Florida woman said so..

[Mojave]

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.

[icwhatudo]

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”.

[BARLF]

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.

[Sig Sauer P220]

I guess they can hand out I.O.U.’s

[KarlInOhio]

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?