by Tim Brown, Freedom Outpost:
The “First in Flight” State, North Carolina, has now become the first state in the Union to reject federal money and put an end to unemployment benefits for 70, 000 people on Monday. The state legislature made the decision citing saving businesses money and to make extra payments on a debt they have which is due in 2015, rather than had been assumed in 2018.
State officials adopted the package of benefit cuts and increased taxes for businesses in February, a plan designed to accelerate repayment of a $2.5 billion federal debt. Like many states, North Carolina had racked up the debt by borrowing from Washington after its unemployment fund was drained by jobless benefits during the Great Recession.
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