Document date: April 26, 2012
Released online: April 26, 2012
State-financed unemployment insurance (UI) programs owe the U.S. Treasury and the private securities market more than $46 billion. In testimony before a U.S. House Ways and Means subcommittee, Wayne Vroman discusses the causes of this debt, UI benefit payments since the onset of the Great Recession, and how a financing crisis can be avoided in the next recession.
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