Ohio Running Low On Unemployment Money

Source: AP

POSTED: 9:16 am EST November 12, 2008

COLUMBUS, Ohio -- With unemployment rising, state officials warn that Ohio's fund for paying jobless benefits is dwindling and could be empty by next month.

When that happens, the state will be forced to take out a federal loan to keep the unemployment checks flowing, for the first time in 26 years.

Gov. Ted Strickland says he's asking Congress for federal aid to replenish the fund, so the state won't have to borrow. If Ohio were to have trouble paying back a loan, it could face high interest costs and the threat of automatic tax increases on the state's employers after two years.

A recent report from the National Employment Law Project said Ohio was one of five states that could run out of unemployment money within three months.

Read more: http://www.newsnet5.com/money/17962586/detail.html

---

Things are so bad here, it's scary.

that means less tax revenue and ultimately less money for programs to help people stay afloat or get back on their feet.

It's going to get worse before it gets better, unfortunately for all of us.

If things couldnt get worse.
I work at GM lordstown and recieved a 60 lay-off notice
at work last night.
this is getting disgusting.

:hug:

Not only are there going to be issues like this with unemployment benefits, but it will soon begin to hit State, County, City services, if it hasn't already in Ohio and many of other States. Frightening to say the least.

I heard soup kitchens are closing across the country as they simply can not feed all of the people and are having terrible times trying to get the donations to come in. Property values are dropping daily, which means less taxes for States and Counties to work from. Arrrgghhh

and Saudi decided that we cant be trusted with more loans, the shit is gonna hit the fan.

Couldn't resist ;}