WHAT THE COMMERCIAL MEDIA WON'T TELL YOU
Thirty-Two States are Now Officially Bankrupt
$37.8 Billion Borrowed From US Treasury To Fund Unemployment Insurance
Global Research
Zero Hedge
Courtesy of Economic Policy Journal we now know that the majority of American states are currently insolvent, and that the US Treasury has been conducting a shadow bailout of at least 32 US states.
Over 60% of Americans receiving state unemployment benefits are getting these directly from the US government, as 32 states have now borrowed $37.8 billion from Uncle Sam to fund unemployment insurance.
The states in most dire condition, are, not unexpectedly, the unholy trifecta of California ($6.9 billion borrowed), Michigan ($3.9 billion), and New York ($3.2 billion). With this form of shadow bailout occurring, one can only wonder how many other shadow programs are currently in operation to
fund states under the table with federal money.
The full list of America's 32 insolvent states is below, sorted in order of bankruptedness :
NOTE : California is $6.9 billion or $6,900,000,000
California
6,900,000,000
Michigan
3,900,000,000
New York
3,200,000,000
Penn.
3,000,000,000
Ohio
2,300,000,000
Illinois
2,200,000,000
N.C.
2,100,000,000
Indiana
1,700,000,000
New Jersey
1,700,000,000
Florida
1,600,000,000
Wisconsin
1,400,000,000
Texas
1,000,000,000
S.C.
886,000,000
Kentucky
795,000,000
Missouri
722,000,000
Connecticut
498,000,000
Minnesota
477,000,000
Georgia
416,000,000
Nevada
397,000,000
Mass.
387,000,000
Virginia
346,000,000
Arkansas
330,000,000
Alabama
283,000,000
Colorado
253,000,000
R.I.
225,000,000
Idaho
202,000,000
Maryland
133,000,000
Kansas
88,000,000
Vermont
33,000,000
S.D.
24,000,000
Tennessee
21,000,000
Virgin Islands
13,000,000
Delaware
12,000,000
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