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Thursday, February 25, 2010
Graphical Information on the Solvency of Unemployment Insurance Fund under Governor Christie's Plan
Trenton, NJ - The following two graphs show that the Governor’s plan will bring the unemployment insurance fund back to solvency faster than if no action is taken, without the dramatic tax increase on businesses that would be triggered under current law:
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4 comments:
We all know that whenever we see a graph estimating Government revenues or surpluses, it's never even close.
Now I don't want to dismiss the Governor's plan, but I'm not sure this addresses the root of the problem.
as a sidenote, as I remember from the old days when I was unemployed, you'd never get more benefits payments than you contributed to the UI fund, so theoretically the fund shouldn't run out of money.
But anyway, the problem is that you have 6-7 years of job expansions and 1-2 of contractions. During the expansion, the extra funds are spent on other projects. And then when the contraction comes, of course the fund doesn't have money. The solution is to make it a closed fund - when you have a surplus, just invest it in treasuries or mutual funds, don't let money out of it for anything else. Just try doing this as we start the new business cycle, and you won't have any more problems.
A New Jersey Republican...Praise the Lord! Keep up the good work. We right-wingers in Chicago need hope.
James,
I am not affraid of what you wrote.
You included a phone number in your last submission.
I have no way of know if that is your number, as you implied it was or not.
Otherwise, your posts are needlessly caustic and insulting. I don't like them but was putting up with them.
You have convinced me to do otherwise.
Go somewhere else. Your comments are no longer welcome here.
Here is a crazy thought. Unemployment benefits only benefit employees, not employers. So let the employees pay the full ride. Then they can decide if they want to vote for dems and RINOs who keep raising their benefits since they will pay the full cost as they should. Also anyone on unemployement should be required to work as a census taker and reduce their benefits for what they get paid while doing census work. Anyone else can be required to move bricks from one end of a yard to another for 4 hours a day (they can use the other 4 to look for a job) I think everyone knows people who stay on UE as long as possible because they would rather stay home and collect benefits then earn an honest living.
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