Some folks just never 'GET IT'..... Rumpelstiltskin is a Fairytale!!!

Do y'all hear that sound? Yeah, that sound ..... the tin can rolling down the road! We've beaten that metaphor, simile or whatever to death the last couple of months, but shucks it's still the word of the day.

Schumer seeking to extend interest-free loans to states in September

By Pete Kasperowicz - 08/19/11

Sen. Charles Schumer (D-N.Y.) is planning to introduce legislation that would extend the ability of states to borrow billions of dollars interest-free from the Federal Unemployment Trust Fund (FUTF) to help pay state unemployment claims, and said failing to extend this program would crush small companies in his state and possibly others.

The 2009 stimulus bill gave states the ability to borrow from the FUTF without paying interest, but that benefit will expire at the end of fiscal 2011, or Sept. 30. Schumer said the expiration means an interest payment will be due at the end of September.

New York borrowed $3 billion from the FUTF to help make unemployment payments, which translates into a $95 million interest payment. According to the National Conference of State Legislatures, 28 states plus the Virgin Islands have borrowed a combined $36 billion from the fund, which means other states will face the same problem New York is facing.

California is the largest FUTF borrower, at more than $8 billion. Other states that have borrowed more than $1 billion are Florida, Illinois, Indiana, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania and Wisconsin. (for more go to the article in TheHill)

In twenty-five words or less: Like every other spending bill ever generated in congress, the Porkulus Bill created a one time money source for states with holes in their unemployment bucket. Schumer proposes to make this another everlasting hole in the Federal bucket!

Sorry, I ran thirteen words over the Twenty-five I allotted myself but I'm learning from Schumer how to do that stuff.

I reckon those world class idjits have been in Congress so long, they believe Bernake is like Rumpelstiltskin can spin straw into gold, or at least paper into real money. Lord have mercy!

Earth to Chuck-you Schumer --- we are broke.. in debt... out of money... unable to borrow more! It's belt tightening time!! Time to close that treasury cash register that y'all treat like a food bank....