Comments on: States Running Out of Unemployment Funds http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html Sun, 22 Nov 2009 16:56:52 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-33997 Anonymous Wed, 28 Jan 2009 19:02:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-33997 dont we, as employees pay into unemployment insurance? so, if 100% of employees pay into UI, and what-8% of people are unemployed (not sure of exact percentage) how in the hell are states running out of funds? not to mention you only get benefits from the last two years. where is this money?! dont we, as employees pay into unemployment insurance? so, if 100% of employees pay into UI, and what-8% of people are unemployed (not sure of exact percentage) how in the hell are states running out of funds? not to mention you only get benefits from the last two years. where is this money?!

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29439 Anonymous Tue, 16 Dec 2008 04:03:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29439 To check out more on state budget shortfalls and squeezes, nationwide:<br/><br/>STATE BUDGET TROUBLES WORSEN<br/>http://www.cbpp.org/9-8-08sfp.htm<br/><br/>For NY:<br/>Check out the "Latest from FPI" column to the right<br/>http://fiscalpolicy.org/ To check out more on state budget shortfalls and squeezes, nationwide:

STATE BUDGET TROUBLES WORSEN
http://www.cbpp.org/9-8-08sfp.htm

For NY:
Check out the “Latest from FPI” column to the right
http://fiscalpolicy.org/

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29405 Anonymous Mon, 15 Dec 2008 19:27:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29405 The Congress has extend the UI benefits twice now, just as recently as this month (approved a few months ago). I believe that is six months worth of extensions beyond what the some States paid and people exhausted. The Congress has extend the UI benefits twice now, just as recently as this month (approved a few months ago). I believe that is six months worth of extensions beyond what the some States paid and people exhausted.

]]> By: Mara http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29402 Mara Mon, 15 Dec 2008 18:47:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29402 Raided trust funds should be cause for jail--talk about fiduciary irresponsibility. Of course, that sets the precedent for a lot of congresscritters to go "up the river" for their raids on SocSec too.<br/>My druthers would be to can the whole wretched mess and cut all of the taxes. Tho my folks put in 50 years of work (and mom's still working) they can't look to the state for any help with my dad, who's now wheelchair-bound, though I'm sure they've sunk many tens of thousands into Calif's and fed's endless maws of taxation. So you end up paying for benefits, but effectively you still end up paying for stuff yourself, and the amount received is so small as to render it useless. We won't even consider the time factor in dealing with the intractable bureacracy intended to stop anyone from actually collecting said benefits. Raided trust funds should be cause for jail–talk about fiduciary irresponsibility. Of course, that sets the precedent for a lot of congresscritters to go “up the river” for their raids on SocSec too.
My druthers would be to can the whole wretched mess and cut all of the taxes. Tho my folks put in 50 years of work (and mom’s still working) they can’t look to the state for any help with my dad, who’s now wheelchair-bound, though I’m sure they’ve sunk many tens of thousands into Calif’s and fed’s endless maws of taxation. So you end up paying for benefits, but effectively you still end up paying for stuff yourself, and the amount received is so small as to render it useless. We won’t even consider the time factor in dealing with the intractable bureacracy intended to stop anyone from actually collecting said benefits.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29395 Anonymous Mon, 15 Dec 2008 18:12:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29395 In CA at least, the state unemployment fund seems to be a reasonably fairly priced insurance plan. Probably too fairly priced.<br/><br/>Businesses surely benefit from the ability to lay off workers at will without the feeling they are dooming their workers to instant penury. Bear in mind that many businesses lay off & then re-hire the exact same people later. The absence, or mitigation at least, of ill-will from these experienced workers is worth paying a little bit for.<br/><br/>Unemployment benefits are not charity & they are also not a substitute for savings.<br/><br/>Lots of hard-working people are unlucky enough to be born into a scenario where the best they can do for themselves is be a disposable worker living paycheck to paycheck.<br/><br/>Lazarus In CA at least, the state unemployment fund seems to be a reasonably fairly priced insurance plan. Probably too fairly priced.

Businesses surely benefit from the ability to lay off workers at will without the feeling they are dooming their workers to instant penury. Bear in mind that many businesses lay off & then re-hire the exact same people later. The absence, or mitigation at least, of ill-will from these experienced workers is worth paying a little bit for.

Unemployment benefits are not charity & they are also not a substitute for savings.

Lots of hard-working people are unlucky enough to be born into a scenario where the best they can do for themselves is be a disposable worker living paycheck to paycheck.

Lazarus

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29394 Anonymous Mon, 15 Dec 2008 18:04:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29394 Getting a check for 3 or 6 months can be a life saver while looking for other work.<br/><br/>Wonder how many States raided the trust funds to pay general obligations?<br/><br/>Doubt if any trust has the funds or planned to pay out for a year or two.<br/><br/>It's gonna get scary as time marches on. Getting a check for 3 or 6 months can be a life saver while looking for other work.

Wonder how many States raided the trust funds to pay general obligations?

Doubt if any trust has the funds or planned to pay out for a year or two.

It’s gonna get scary as time marches on.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29387 Anonymous Mon, 15 Dec 2008 17:27:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29387 We are not a nation of beggars. We are getting back what we already paid for in taxes. It's our own money, that we are getting back. We are not a nation of beggars. We are getting back what we already paid for in taxes. It’s our own money, that we are getting back.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29383 Anonymous Mon, 15 Dec 2008 16:16:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29383 It's funny...if I got laid off I would have enough savings to last about 8 months. Why is no one bringing up the point that a lot of this is the individuals fault. "Oh poor Mr. Jones he has no job. Maybe he can live in his boat, RV or Hummer. How will he ever pay his $30,000 in credit card debt?"<br/><br/>Lets do away with unemployment altogether and start saving our money. People in tough times could look to charities for and outs. We are a nation of beggars... It’s funny…if I got laid off I would have enough savings to last about 8 months. Why is no one bringing up the point that a lot of this is the individuals fault. “Oh poor Mr. Jones he has no job. Maybe he can live in his boat, RV or Hummer. How will he ever pay his $30,000 in credit card debt?”

Lets do away with unemployment altogether and start saving our money. People in tough times could look to charities for and outs. We are a nation of beggars…

]]> By: Guttersnipe http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29371 Guttersnipe Mon, 15 Dec 2008 14:28:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29371 Unemployment insurance trust fund replenishment factors generally lag economic activity by a year or two. With a steady rise in unemployment and a corresponding decrease in business activity the UI tax rates will likely increase significantly in 2010 barring a miraculous turnaround in 2009. As in the early 1980's numerous states are likely to require federal loans to continue benefits payments. Unemployment insurance trust fund replenishment factors generally lag economic activity by a year or two. With a steady rise in unemployment and a corresponding decrease in business activity the UI tax rates will likely increase significantly in 2010 barring a miraculous turnaround in 2009. As in the early 1980’s numerous states are likely to require federal loans to continue benefits payments.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment.html#comment-29352 Anonymous Mon, 15 Dec 2008 11:56:00 +0000 http://www.nakedcapitalism.com/2008/12/states-running-out-of-unemployment-funds/#comment-29352 Every city and every state pretty much celebrated the bubble economy with their own unsustainable spending bubble. Welcome to the other side of the mountain, world. Every city and every state pretty much celebrated the bubble economy with their own unsustainable spending bubble. Welcome to the other side of the mountain, world.

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