33 States Out of Unemployment Money
Two out of three states and the Virgin Islands have exhausted their funds earmarked for jobless benefits, and another four’s jobless funds are “on the brink of insolvency”. They are borrowing billions from the federal government to cover jobless claims and provide benefits to those who are unemployed:
Debt-challenged California has borrowed the most, totaling more than $8.4 billion, followed by Michigan and New York, which have loans worth more than $3 billion. Nine other states have borrowed at least $1 billion from the federal government.
Here are the states who have already borrowed from the federal government, with the 2008 Obama/McCain Blue State/Red State outcome helpfully filled in:
| State | Borrowed |
|---|---|
| California | $8.40 billion |
| Michigan | $3.78 billion |
| New York | $3.00 billion |
| Pennsylvania | $2.81 billion |
| Ohio | $2.23 billion |
| North Carolina | $2.14 billion |
| Illinois | $2.06 billion |
| Texas | $2.03 billion |
| Indiana | $1.81 billion |
| New Jersey | $1.55 billion |
| Florida | $1.50 billion |
| Wisconsin | $1.34 billion |
| South Carolina | $851 million |
| Kentucky | $760 million |
| Missouri | $687 million |
| Minnesota | $638 million |
| Connecticut | $422 million |
| Georgia | $337 million |
| Nevada | $331 million |
| Arkansas | $318 million |
| Virginia | $317 million |
| Massachusetts | $279 million |
| Alabama | $268 million |
| Rhode Island | $204 million |
| Colorado | $186 million |
| Idaho | $181 million |
| Maryland | $104 million |
| Kansas | $65 million |
| New Hampshire | $23 million |
| South Dakota | $23 million |
| Vermont | $23 million |
| Arizona | $22 million |
| Virgin Islands | $13 million |
| Delaware | $1 million |
Source: National Employment Law Project
Let’s see where we stand after California starts the bankrupt state bailout domino effect.
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