It was announced that Florida might borrow as much as $1 Billion to cover its unemployment insurance. According to Propublica, the state has borrowed $45 million to date but may by the end of the year have borrowed $1.2 Billion. Florida, of course, is not the only state to be borrowing money to cover unemployment insurance. As more employees are laid off due to the bad economy, states have to borrow more money to cover the nut on unemployment insurance.
It is remarkable that the insurance companies are in danger of falling behind and not meeting their obligations. We all know about the AIG debacle and how it had to be rescued from bankruptcy and disaster. Now there are news headlines regarding the FDIC and how it too is running short of cash. Then ther eis the states and the unemployment issue.
It would seem that after awhile it would be more cost effective to put out this kind of money and put people to work. States have budgetary issues and could certainly use the assistance of qualified workers. Run background checks, conduct interviews, and assess skill sets of unemployed workers, and perhaps assign them to temporary positions within the state and local governments. We do it with census workers, so why not here? Now? When every state needs a helping hand?
At least we would be getting something for the money. And workers would not feel unwanted and out of sorts. They would have a job, some kind of work, part time, temporary, whatever. Workers would have a place to go in the morning. A place where they matter. It might even pay to put the more financially astute to work. The unemployed stockbrokers and business people. Maybe they could figure out a way for the states to make some money. Now that would be something.
