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January 19, 2013
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Bonds to pay off unemployment debt would save money

Gov. Brian Sandoval’s proposed budget calls for an innovative answer to paying down the massive $703 million unemployment insurance debt.That debt was run up over the past four years as thousands of Nevadans sought unemployment benefits after losing their jobs. The sheer number of unemployed rapidly used up the reserves Nevada had built up to pay benefits. That forced the Employment Security Division to borrow from the federal government to continue paying unemployment checks.Sandoval mentioned briefly in his State of the State address that his administration planned to restructure that debt. What that means is to pay off those federal …

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The Nevada Appeal Updated Jan 19, 2013 03:32AM Published Jan 19, 2013 03:31AM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.