XPost: alt.california, alt.fan.rush-limbaugh, alt.society.liberalism   
   XPost: talk.politics.guns   
   From: stupid@california.gov   
      
   On 05 Mar 2022, Kurt Nicklas  posted some   
   news:t01h91$26831$35@news.freedyn.de:   
      
   > Dechucka wrote   
   >   
   >> California voters are fucking stupid to let this continue.   
      
   During the coronavirus pandemic, so many people lost jobs that many of   
   these funds ran out of money. Twenty-two states borrowed from the federal   
   government so they could keep paying unemployment benefits. Those states   
   must pay that money back, plus interest. Most states have already done   
   this. But California is one of five states that hasn’t. The state owes   
   $18.9 billion.   
      
   If California doesn’t pay the money back, businesses have to do it through   
   higher taxes. California was supposed to start paying off the debt this   
   year with $1.5 billion — $1 billion toward the debt, plus another $500   
   million to help small businesses pay their increased taxes.   
      
   But that was before California had a $22.5 billion budget deficit 1. Now,   
   Democratic Gov. Gavin Newsom wants to cancel $1.25 billion of that   
   spending to help cover the state’s budget shortfall. That means businesses   
   will have to pay an additional $21 per employee in federal unemployment   
   insurance taxes this year. That tax will keep increasing by $21 every year   
   over the next decade that the debt is not paid off…   
      
   California could have paid off the debt, or at least a sizeable portion of   
   it, in the past two years when it had a combined general fund budget   
   surplus of $119.4 billion. But state officials didn’t do that…   
      
   DB2   
      
   https://discussion.fool.com/t/california-defaulting-on-federal-loan/92140   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)