Wisconsin Borrows $1.4 Billion from Feds for Unemployment Funds

Yet another example of the transfer of insolvency from the State to the Federal balance sheet. Unlike the Euro, the U.S. dollar can be devalued through infinite QE backed by the printing press.

The State of Wisconsin has run out of money to pay unemployment benefits and has borrowed one point four billion dollars from the federal government to fill the gap.

Wisconsin’s loans place the state as one of the largest Unemployment Reserve debtors in the country.

As the economic climate worsened in Wisconsin the past few years, more and more people lost their jobs and the state’s Unemployment Reserve Fund became insolvent.

Source: maciverinstitute.com