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Wisconsin’s fund to pay jobless running dry

By ASSOCIATED PRESS   Monday, July 21, 2008 - 9:55 a.m.
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MADISON, Wis. (AP) — A state projection shows Wisconsin’s reserve fund for paying unemployment claims could run out of money by March.

If that happens, the state would have to borrow money from the federal government to pay jobless claims to laid off workers for the first time in two decades.

State Department of Workforce Development Secretary Roberta Gassman oversees the unemployment program. She says state officials are watching the fund carefully, given the struggling economy.

As of July 15, the fund had $431 million.

State Division of Unemployment Insurance administrator Hal Bergan says continued high jobless claims could leave the fund $6.2 million short by next March.

The state borrowed millions of dollars from the federal government to keep the fund solvent during an economic slowdown in the early 1980s.




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marymac4
Jul 21, 2008 at 2:17 p.m.
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I cant wait until NOV. then what choice do we have Time for a change hahaha. A change for who? Sure the h--- not the Americans or people who work hard to just get by. We think its bad now HELLO look ahead at the choices and pray for something and make sure you start a good nest egg as you are going to need it. Trollys and buses at every border and at every port. Free rides to the welfare lines and jobs for all........

marymac4
Jul 21, 2008 at 2:10 p.m.
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Why would you blame one person when our whole government is in a world of hurt. Doyle has not been in office long and I guess good old Tommy did such a great job. We are the people of this country and we vote in who ever talks the loudest and low and behold again we head down down down. The amount of illegals getting away with no taxes then get unemployment food stamps med cards. Well who is paying for it????? They open a business tax free for a few years then put it in a family members name and it goes on on on and no taxes for our people. The gas stations are owned by whooooo? ONLY IN AMERICA!!!!!!!!!!!!!!!!!!!

janesvillean
Jul 21, 2008 at 1:25 p.m.
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Just for the record, Wisconsin is one of thirty-three states with unemployment insurance funds below recommended levels. A number of these states will have to replenish their monies from their general funds or other resources or borrow from the federal government in order to keep paying unemployed workers.
http://www.detnews.com/apps/pbcs.dll/art...
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Part of the problem is that many states have been reluctant to adjust their tax rates (which are levied on employers) to keep pace with inflation, with some states not having revised their rates for 25 years or more. So in actual fact businesses are paying fewer dollars into the fund per employee than they did a generation ago.

andiwonderwhy
Jul 21, 2008 at 11:13 a.m.
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Althought I am not a big fan of Gov. Doyle, this is not about the government, it is about economics and businesses doing what they need to do to make a profit before they need to close their doors. If the governement keeps offering tax breaks to try and keep some of these companies in WI, where do you think the government finds money to replace what that business didn't pay? It comes from extra taxes (regardless of what program the government states it is for) and everyone in the state is paying more. It is just like the illegal aliens. Why not give them a tax number and tax their earnings (they already receive our tax money). Beside, this country was formed by illegal aliens.

armyof3
Jul 21, 2008 at 11:01 a.m.
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it's not Doyle's fault... due to the rapid economic decline and overinflation, a lot of businesses are struggling to afford supplies/parts to meet the consumer demand... because the prices have increased so much, they have a choice of either saving money and laying people off, or take the chance and keep their work force on and ultimately close their doors, which would put more people on the unemployment line than what already are... the companies are trying to save as much as they can so that they can profit... it's all a domino affect that we're seeing... if it's this bad in wisc, how much worse is it in other states??

jtmek
Jul 21, 2008 at 10:34 a.m.
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I guess Doyle should start working to make Wisconsin more appealing to businesses. At the current rate, we'll have no big businesses or high paying jobs left in Wisconsin.

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