Denver, CO – The Colorado unemployment fund is close to running out, according to a recent article from the Colorado Sun detailing fraudulent claims.
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Benefits paid out by Colorado total $4.28 billion by the week ending August 1, 2020. That includes federal pandemic unemployment compensation totaling $2.33 billion. These payments ended on July 25, 2020.
The state Unemployment Insurance Trust Fund, which had $1.1 billion before the pandemic, is down to $75 million to $100 million and is expected to run out of money this month. The state has already made a request to borrow federal funds to continue paying unemployment benefits, Gedney said.
From The Colorado Sun
This is just one more consequence of Governor Jared Polis’ draconian orders suppressing Colorado’s economy.
Restaurants are still limited on capacity, and certain small businesses are still unable to open. As a result, the highest percentage of new unemployment claims continues to be “Accommodation and Food Service” at 12.1 percent.
Polis is picking winners and losers, and there is little Coloradans can do about it.
Hundreds of Northern Coloradans recently rallied against Polis’ draconian policies in Loveland. Of course, this was either not covered by the media, or included an unhealthy helping of liberal bias.
If Polis does not ease restrictions, more businesses will continue to close, and Colorado’s unemployment woes will continue.
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