Another California crisis

November 23, 2009

The San Jose Mercury News reports a bit of sobering news to kick off the week: cash-strapped California now will likely finish 2009 with its unemployment insurance fund $7.4 billion in the red.  The state fund has already been bailed out by the feds for $4.7 billion–funds that must be repaid by 2011 to avoid hundreds of millions of dollars in interest payments.