States May Face Worse Budget Problems

NEW YORK (1010 WINS) — State budget crunches are about to get tighter.

On the billions of dollars states borrowed from the federal government to pay unemployment benefits during the recession, $1.3 billion in interest was coming due this Fall.

State governments had hoped that the economy would’ve turned around or that Congress would loosen the terms.

However, it’s not happening. States are going to have to find that money, meaning many could face even more red ink.

  • The Truth

    There is plenty of funds but the misuse is part of what is killing the State and the Country overall. Corporate profits hit the roof yet no jobs are being created. Why does a old geezer CEO from an Ivy League school get the salary of a regular joe 10,000 times over. It was never that way. Unions and pensions are another problem. Then theres fraud and so on. Bottom line is greed.

  • robert marshall

    ok how bout this tax breaks big ones for jobs that employ large numbers of people or a govt subsidy

  • robert marshall

    everybody cant be a computer programmer or doctor is it me cause when we had factory jobs it was alittle better for everyone am i crazy but i think automation is part of the prob

  • Observer

    The states should go after the greedy unempl;oyed people with their gold-plated benefits, just like they’re going after their employees. Never mind that it’s not their fault–it’s the gimmikry legislated by state representatives. As everybdy’s hero, Chris Christie, sez: “That’s past history.” GO GET’IM!!!

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