Wednesday, October 28, 2009

Michigan's debt to federal government for unemployment claims: $2.8B and counting


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."
When will it be paid?

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