April 8th, 2010
06:07 PM ET

33 states out of money to fund jobless benefits

With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans.

A total of 33 states and the Virgin Islands have depleted their funds and borrowed more than $38.7 billion to provide a safety net, according to a report released Thursday by the National Employment Law Project. Four others are at the brink of insolvency.

Read the full CNNMoney.com story

soundoff (2 Responses)
  1. Michael Tuchman

    It is unfortunate that most state legislatures don't do more to fund their liabilities, but this takes tax dollars away from more visible and popular programs. Voters simply don't reward lawmakers for this sort of prudent behavior. We shouldn't blame our state reps, we should blame the person we see in the mirror every morning.

    April 11, 2010 at 1:38 pm | Report abuse |
  2. Kurt Russel

    Its a wonder why state benefits have been deoleted. Its beause the system has not check and balance system. I personally have 4 close friends that have been on unemployement for more than a year and have not looked for one job!! They call and offer to extend them every six weeks or so with no proof asked of job hunting. Im a little curious whats going to happen if I am laid off and there are no more funds available to actually help people in need that are feverishly looking for new work.

    April 11, 2010 at 8:53 pm | Report abuse |