Triangle Business Journal reports the data on our state’s massive debt to the feds over borrowed money to pay unemployment benefits.
Having borrowed $2.56 billion from the federal government to help cover unemployment benefits, North Carolina ranks fourth among the 22 states that went to the feds for help.
JLF’s Director of Fiscal Policy Studies, Fergus Hodgson, offers solutions for paying off the debt in this report released earlier this year. He explains the rationale:
“While the trust fund debt has grown rapidly in just two-and-a-half years, changes of relative ease would pay off this debt in six years,” said report author Fergus Hodgson, JLF Director of Fiscal Policy Studies. “Doing so would halt the growing imposition of debt on future workers not yet able to defend themselves in the political process, and it would avert further intrusion and mandatory tax increases from the federal government.”
........As you post your comment, please conform to Right Angles's simple comment policy: we welcome all perspectives, but require that comments be both civil and respectful. If you wouldn't say it to a co-worker in front of your boss, it probably is not civil and respectful. We will delete any comment that fails this test and issue a warning to the poster. A second offense will result in a ban on commenting on this site. In sum, disagreements, arguments even, are welcome; abusive behavior is not. Thanks.
You must be logged in to post a comment.