Monday, April 12, 2010

States Broke....

From CNN -
A total of 33 states and the Virgin Islands have depleted their funds and borrowed more than $38.7 billion to provide a safety net, according to a report released Thursday by the National Employment Law Project. Four others are at the brink of insolvency.

Here's how much they’ve borrowed from the federal government.

State Borrowed
California $8.40 billion
Michigan $3.78 billion
New York $3.00 billion
Pennsylvania $2.81 billion
Ohio $2.23 billion
North Carolina $2.14 billion
Illinois $2.06 billion
Texas $2.03 billion
Indiana $1.81 billion
New Jersey $1.55 billion
Florida $1.50 billion
Wisconsin $1.34 billion
South Carolina $851 million
Kentucky $760 million
Missouri $687 million
Minnesota $638 million
Connecticut $422 million
Georgia $337 million
Nevada $331 million
Arkansas $318 million
Virginia $317 million
Massachusetts $279 million
Alabama $268 million
Rhode Island $204 million
Colorado $186 million
Idaho $181 million
Maryland $104 million
Kansas $65 million
New Hampshire $23 million
South Dakota $23 million
Vermont $23 million
Arizona $22 million
Virgin Islands $13 million
Delaware $1 million
Source: National Employment Law Project

The Real Effect
States going bankrupt?

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