Michigan's debt to federal government for unemployment claims: $2.8B and counting
"Michigan has been borrowing from the federal government to pay out unemployment insurance benefit claims since mid-2008, when its own trust fund became insolvent, and now owes the feds $2.8 billion.
The total is expected to grow higher.......There is no estimate for when the state might be able to fully repay the debt, Isotalo said."
"Michigan has been borrowing from the federal government to pay out unemployment insurance benefit claims since mid-2008, when its own trust fund became insolvent, and now owes the feds $2.8 billion.
The total is expected to grow higher.......There is no estimate for when the state might be able to fully repay the debt, Isotalo said."
When will it be paid?
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