U.S. bills states $1.3 billion in interest on jobless-pay loans

[primroselane]

The interest cost, which has been looming in plain sight without attracting much attention, represents only a sliver of the huge deficits most states will have to grapple with this year. But it comes as states are already cutting services, laying off employees and raising taxes. And it heralds a larger reckoning that many states will have to face before long: what to do about the $41 billion they have borrowed from the federal government to help them pay benefits to millions of unemployed people, a debt that federal officials say could rise to $80 billion.

http://www.msnbc.msn.com/id/41086473...ew_york_times/

"At my lemonade stand I used to give the first glass away free and charge five dollars for the second glass. The refill contained the antidote."
Emo Phillips

[primroselane]

Of course the states will never pay and the federal government will just keep on printing money. We are not the type of people to sacrifice our personal indulgences just to avoid catastrophes for future generations.

[Wolf mom]

Guess you havent heard that congress is looking for ways to allow states to go bankrupt.

http://www.americanthinker.com/blog/...to_go_ban.html

Just one more message to the people that it's Okay to renege on your debt.

Nw if Npolitano would give back the 1 Billion that Homeland Security owes Arizona, the state'd be in pretty good shape financially.