California’s Unemployment Insurance (UI) Trust Fund that pays out state benefits is now “structurally insolvent,” according to a recent report. The Legislative Analyst’s Office noted the debt crisis involving the California Employment Development Department’s (EDD) UI trust fund on July 7. The state report was released following last week’s “May Fund Forecast” report by the EDD. It said…
California’s Unemployment Insurance Trust Fund Is Now ‘Structurally Insolvent’ Under Weight of Pandemic Loans
July 11, 2023
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Billions in Stolen COVID Assistance Funds Likely Gone Forever: Rep. Smith
February 8, 2023
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AMERICACCP ViruscongressCOVID-19 relief fraudeconomyFeatured TopicsFederal-State RelationsPolicies & ImpactsPoliticsSocial Issuesunemployment insuranceUSUS News
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A rush to provide financial assistance to Americans forced out of their jobs in the COVID-19 pandemic resulted in a $191 billion bonanza for fraudsters, according to chairman of the House Ways and Means Committee Rep. Jason Smith (R-Mo.). “There’s no question folks needed help, which is exactly why Congress should have protected this program…
Billions in Stolen COVID Assistance Funds Likely Gone Forever
February 8, 2023
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AMERICACCP ViruscongressCOVID-19 relief fraudeconomyFeatured TopicsFederal-State RelationsPolicies & ImpactsPoliticsSocial Issuesunemployment insuranceUSUS News
0 Comment
A rush to provide financial assistance to Americans forced out of their jobs in the COVID-19 pandemic resulted in a $191 billion bonanza for fraudsters, according to chairman of the House Ways and Means Committee Rep. Jason Smith (R-Mo.). “There’s no question folks needed help, which is exactly why Congress should have protected this program…
IG Says DOL made $77.2 Billion in Improper Unemployment Insurance Payments in 2021
More than $77 billion of the Unemployment Insurance (UI) program’s total of $413 billion in payments in 2021 were made improperly, according to the Inspector General (IG) for the Department of Labor (DOL). The DOL “published an improper payment rate of 18.71 percent for the UI program, which resulted in an estimated $77.2 billion in…
Labor Dept. Made $77.2 Billion in Improper Unemployment Insurance Payments in 2021: IG
More than $77 billion of the unemployment insurance (UI) program’s total of $413 billion in payments in 2021 were made improperly, according to a report from the Department of Labor’s Office of Inspector General (IG). The Labor Department (DOL) “published an improper payment rate of 18.71 percent for the UI program, which resulted in an estimated $77.2…
US Unemployment Insurance Claims Hit Lowest Level in 2022, Job Creation ‘Strong’: Labor Department
The number of American citizens filing new claims for unemployment benefits declined to its lowest level for the year in the week ending Feb. 26, according to latest data from the U.S. Department of Labor. Seasonally adjusted initial unemployment claims were at 215,000, a decline of 18,000 from 233,000 in the week ending Feb. 19,…
Taxpayers Are Getting Ripped Off and Congress Does Nothing
Commentary Milton Friedman used to quip that, in Washington, if a government program is working, Congress says we need to spend more money on it. And if a government program is failing, Congress concludes we are not spending enough money on it. We are seeing that in spades with the unemployment insurance program that has…
Labor Department Allots $240 Million to Fight ‘Terrifying’ Level of Unemployment Insurance Fraud
The Labor Department is giving $240 million to states for measures like beefing up cybersecurity defense and identity verification in a bid to fight an explosion of unemployment insurance fraud. The move, announced in an Aug. 12 press release, is part of a broader thrust to modernize the unemployment insurance system, the shortcomings of which…
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