Friday, April 9, 2010

Day 80 - Yeah, but Will the Check Clear?

Texas is one of 33 states borrowing federal money to pay state unemployment benefits.To date, the state has borrowed $2.03 billion dollars in order to fund unemployed Texans' glamorous indulgences such as paying mortgages and buying Ramen noodles.

The borrowing cycle is endless, isn't it? Every day folks borrowing via credit cards, banks and credit unions. The state borrowing from the federal government to cover unemployment. The nation turning to Daddy Warbucks China to ask for " Just a little bit more to tide us over."

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