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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