Friday, December 30, 2011

State Sen. Fran Millar discusses the repayment of Federal Unemployment Loan

Georgia owes the Federal Unemployment Account about $620 million in loans taken out to pay unemployment benefits during the economic downturn. Under current regulations, states will be required to repay these federal loans, plus 4% interest. About a year ago, Georgia has the 16th highest loan balance nationally and the fifth highest among southern states behind North Carolina, Florida, South Carolina and Kentucky.

New York Times Article - Feb 2011

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