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Cash-strapped US running out of unemployment money
[Iran Press TV Latest] Twenty-five US states are running out of federal funds to pay unemployment benefits to jobless Americans. According to The Washington Post, currently 25 states have been forced to borrow USD 25 billion from the federal government to keep their unemployed a float. The Department of Labor estimates that by 2011 some 40 states will have run out of employment money and will be in need of borrowing USD 90 billion from the federal government. State authorities currently have two options: Raising taxes or shrinking aid payments. However, government consultant Leonard Simon says the federal government must create jobs at the state level. "It is surprising to see how wide spread it is" he said. Meei Child is an unemployed citizen, since nine months ago, has been living off of unemployment benefits from the government which ends in March. "There is a lot of frustration and anxiety with that," Child told Press TV. She is one of more than 15 million jobless Americans, who depend on their unemployment checks that average about USD 300 per week. The White House recently taken measures that it hopes would create employment opportunities and Infrastructure revitalization, while providing USD 41 billion for unemployment benefits. Addressing the measure US President Barack Obama said that "behind these statistics are people's lives, their capacity to do right by their families. It speaks to an urgent need to accelerate job growth in a short term while laying a new foundation for lasting economic growth." Posted by: Fred 2009-12-28 |
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