"Ohio Unemployment Funds Running Out"

From WCPO:
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"As the Ohio jobless rate soars above the national average, state officials warn the fund that pays unemployment claims may be running out.

With 7.2 percent of Ohio's work force unemployed, the trust that funds Ohio's unemployment compensation has been strained to its limits and is dwindling quickly. As job seekers search for new employment, the state braces to absorb these additional job cuts.

The economic slowdown has greatly impacted the unemployment fund. The state's minimum safe balance for the fund is $2.5 billion; however, the fund is currently operating with a balance of $325 million."
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As we should recall, in resolving the Tom Noe affair with Coingate, there were a few news items about the Republican-dominated leadership in Columbus having underfunded the state's reserves for unemployment compensation, as that usual and baseless gift to companies in the form of low premiums. Did the fund ever get properly funded after that? Or are we still suffering from a corporation-favoring state government's legacy policy?

Will Strickland put the solution of the funding matter back upon the pockets of those who deserve it (i.e. the companies of Ohio), or will he chicken out and run to the federal government (or worse, bond investors) for it?

Your rating: None Average: 5 (2 votes)

Darned bold tag!

There's plenty of money floating around. Remember, Chief Navarre was able to personally oversee that raid on a local night club where people were smoking, just so they could issue citations. Navarre himself said "We can do things like this as long as the budget allows, and it does." Don't need any more money or cops, we have plenty, obviously.
Don't worry about it.
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'I used to have compassion, but they taxed it and legislated it out of existence.'

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'I used to have compassion, but they taxed it and legislated it out of existence.'

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