http://www.boston.com/business/ticker/2010/02/unemployment_fu.html
[B]And where is the Federal government getting this money from for the states to borrow it? [/B]
The deep recession and extended period of high unemployment have exhausted the fund that pays jobless benefits in Massachusetts, requiring the state to borrow from the federal government, the state Executive Office of Labor and Workforce Development reported today.
The fund, which is financed by premiums paid by businesses, ran out of money on February 9, and began borrowing from federal government to pay claims. Massachusetts is one of 30 states that have exhausted state trust funds and are borrowing to pay benefits, according to the US Labor Department. The Labor Department expects the 40 states to be borrowing by the end of the year. Under federal stimulus legislation, states can borrow interest-free through 2010.
The Massachusetts unemployment
