http://www.minyanville.com/articles/unemployment-benfits-north-carolina-borrowing-full-part-time-hours-minyanville/index/a/25713
Unemployment Is Taking the Rest of Us Down With It
Fifteen states have collectively borrowed more than $15 billion and another nine states are in the red over unemployment benefits. Please consider Jobless claims put state in debt.
North Carolina's high unemployment rate has stuck the state with $1.4 billion in debt -- money that officials don't know how they'll pay back.
It gets worse. The debt is still rising. The problem is that with about 500,000 people out of work, the state has more unemployment claims than it can pay. So it has been borrowing from the federal government since February, sometimes as much as $20 million a day.
The tally will rise to at least $2 billion by the end of the year, said David Clegg, deputy chairman and chief operating officer of the NC Employment Security Commission. Next year, depending on the economy, could add another $2 billion to the tab, he said.
For purposes of comparison
