Courtesy
of Economic Policy
Journal we now know that the majority of American states are
currently insolvent, and that the US Treasury has been conducting a shadow
bailout of at least 32 US states. Over 60% of Americans receiving state
unemployment benefits are getting these directly from the US government, as 32
states have now borrowed $37.8 billion from Uncle Sam to fund unemployment
insurance. The states in most dire condition, are, not unexpectedly, the unholy
trifecta of California ($6.9 billion borrowed), Michigan ($3.9 billion), and New
York ($3.2 billion). With this form of shadow bailout occurring, one can only
wonder how many other shadow programs are currently in operation to fund states
under the table with federal money.
Below Lynette Zang discusses the pension crisis.
https://www.youtube.com/watch?v=jrC4_PbOnVc
The full list of America’s 32 insolvent states is below, sorted in order of bankruptedness.
Below Lynette Zang discusses the pension crisis.
https://www.youtube.com/watch?v=jrC4_PbOnVc
The full list of America’s 32 insolvent states is below, sorted in order of bankruptedness.
California
$6,900
Michigan
3,900
New
York
3,200
Penn.
3,000
Ohio
2,300
Illinois
2,200
N.C.
2,100
Indiana
1,700
New
Jersey
1,700
Florida
1,600
Wisconsin
1,400
Texas
1,000
S.C.
886
Kentucky
795
Missouri
722
Connecticut
498
Minnesota
477
Georgia
416
Nevada
397
Mass.
387
Virginia
346
Arkansas
330
Alabama
283
Colorado
253
R.I.
225
Idaho
202
Maryland
133
Kansas
88
Vermont
33
S.D.
24
Tennessee
21
Virgin
Islands
13
Delaware
12
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