Saturday New York Times piece:
U.S. Bills States $1.3 Billion in Interest Amid Tight Budgets
As if states did not have enough on their plates getting their shaky finances in order, a new bill is coming due — from the federal government, which will charge them $1.3 billion in interest this fall on the billions they have borrowed from Washington to pay unemployment benefits during the downturn.
Good news for the Bay State, though. Per capita, Massachusetts borrowed the least of the thirty states that tapped the federal government for money to pay unemployment benefits.
Handy Times chart:
Cheap guys finish last, eh?