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News for Unemployment Benefits

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Uploaded on Jun 1, 2010

News for Unemployment Benefits-States bear the full cost of paying the first 26 weeks of unemployment benefits to laid-off workers. (The federal unemployment insurance funding provided under the Recovery Act covers additional weeks of benefits for workers whose state-funded benefits run out before they find a job.) Because the economic downturn has been so long — this recession was the longest since the Great Depression, and because a number of states did not amass adequate trust fund reserves before the recession hit, state UI trust funds have been depleted in 34 states. To continue paying unemployment benefits, these states must borrow from the federal unemployment insurance trust fund.To date, these 34 states have borrowed a total of $41 billion. With unemployment remaining near double-digit levels and projected to remain high for a considerable period to come, the Labor Department has projected that 40 states ultimately will have to borrow, with the total amount borrowed reaching $90 billion by 2013. Recognizing the adverse economic effects of raising taxes on employers, federal lawmakers enacted a Moratorium on these interest payments until December 31, 2010 as part of last year's recovery legislation. A Moratorium is a suspension of an ongoing or planned activity. The moratorium now needs to be extended. States obligations to begin repaying the loan principal pose an even more serious problem over time. Under current law, three states will have payments due this fall, and the loans of 23 more states will come due in 2011. If the moratorium expires as scheduled at the end of the year, states will have to pay approximately $2 billion in interest during federal fiscal year 2011, rising to $3 billion in fiscal year 2012, according to Labor Department estimates.
Current projections suggest that states will face deficits in their operating budgets for state
fiscal year 2011, which ends on June 30, 2011 in most states, of more than $140 billion, even after taking the fiscal relief provisions of the Recovery Act into account.
The U.S. House of Representatives approved another extension of unemployment benefits on Friday, but only through Nov. 30, 2010. This widening of the safety net could be the last as lawmakers grow uneasy over the costs of what is looking to some like an unfunded welfare benefit. Do you get what's happening here? The states owe the Federal Govt. more than $140 billion. They can't pay. The Federal Govt. wants their money that they in turn owe to the 'givers of money', The Federal Reserve. So the Federal Govt. now says to the states and businesses, we're taking over and all will receive direct pay from us. And we will withhold from your pay a percentage of every paycheck to pay back the debt. Viola! Everyone now works for the federal govt. and they essentially work for the little known about private bank called 'The Federal Reserve'. It's practically like this already, but now, it's on paper to be seen. You're officially a slave. If you want to eat, have clothes, a place to live, then you will abide by their rules. So if you work for 'burgerking', you would now really work for the federal govt., or should I say the Federal Reserve, no matter where you work, it'll be for the Federal Reserve. But, hell, we're already doing that. I have researched material about the Federal Reserve for two weeks prior to this video, and it has finally became very clear to me that I will find out nothing about the Federal Reserve. Have you ever considered how insane it is that 'The Federal Reserve System' virtually controls the nation's monetary system, yet it is accountable to no one. It has no budget, it is subject to no audit, and no Congressional Commitee knows of, or can supervise its operations. It has become very clear to me that this small group, 'The Federal Reserve', their scared, you know why? Because we outnumber the small handfull of them. When we finally get enough and all in agreement say STOP. They won't be able to prevent it. The moment is here to support an Equal Money System for all from Birth till Death so all can practically care for themselves. This is the place to begin in facing ourselves within self forgiveness and self honesty. We agreed on the current money system design and we can demand it be stopped and an Equal Money System be implemented. And, not a moment to soon as the world's systems are crashing, we're destroying nature due to money and greed, and make no mistake about it, we will pay. I say a moratorium to end the current money system needs to begin because the number of cases proving our current money system is not working can be told about for months, so, support an Equal Money System!
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www.Desteni.co.za
Facts researched at:
The Center on Budget and Policy Priorities.
http://www.cbpp.org/cms/index.cfm?fa=...
http://articles.latimes.com/2010/may/...

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