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Calif. Borrowing $40M A Day To Pay Unemployment

With one in every eight workers unemployed and empty state coffers,
California is borrowing billions of dollars from the federal government
to pay unemployment insurance.

 

Unemployment payouts push California deeper into debt

The state is borrowing $40 million a day from the federal government to provide assistance to jobless workers, but has resisted changing the formulas it uses to determine and fund those benefits.California's fund for paying unemployment insurance is broke.

 

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