In the last two years, the state collected just $9.9 billion in unemployment insurance taxes—but it paid out $20.6 billion in benefits during the same time. California recently had to borrow $8.5 billion from the federal government to pay for the unemployment benefit obligations. If the state doesn’t pay off its loan from Washington, D.C. by 2012, it will owe a $362 million interest payment. That’s an expensive fantasy to finance—and California can’t print Monopoly money to stay afloat.
Acts 20:24
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“However, I consider my life worth nothing to me; my only aim is to finish
the race and complete the task the Lord Jesus has given me—the task of
testifyin...
1 day ago
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