Indiana Unemployment Needs Solution
By Tias, Gaea News NetworkMonday, January 3, 2011
Los Angeles, (GaeaTimes.com)- The new year has brought with it loads of news with it, some good some bad. For people of Indiana, the year has not started with a positive note. Indiana unemployment has hit rock bottom and people’s suffering are turning from bad to worse. Businessmen are getting the feel of the rising unemployment insurance rates. What is worse is that The Indiana Unemployment Fund has almost no money to provide to the unemployed mass. The Indiana lawmakers are striving to bring up the issue in front of the legislative session beginning on Wednesday.
Gov. Mitch Daniels said that a few adjustments are required to be made in the state regarding the reimbursements being given out to the employees. This decision of his has stirred the unemployed mass all the more. They have become even more eager to bring up the topic of Indiana Unemployment when the legislative session starts on Wednesday. This is supposed to be one of the main topics of discussion. A new budget must be framed so as to remain in sync with the mounting unemployment rate of the state. Numerous people have gone jobless already, thanks to the large amount of tax, levied on businesses. The taxes paid by the businessmen gets collected in an unemployment trust fund, which in turn provides money to the unemployed mass.
The Indiana unemployment fund was not very balanced previously. The expense of the fund was more than its income, which started off since 2000. The consequence was serious. So as to pay its claims, the fund had to borrow money from the federal government. Current, the fund owes $2 billion to the government, which is the principal amount. Another $6million interest is also pending. The only solution to this could be a good structured budget system.
