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Missouri's Bankrupt Unemployment Compensation Program

August 31, 2004
By: Bente Birkeland
State Capital Bureau

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The Governor's office is polling legislators about calling a special legislative session to deal with Missouri's bankrupt unemployment compensation program. Bente Birkeland reports from the state Capitol.

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Since 2003 Missouri borrowed nearly $300 million from the federal government for the state's unemployment compensation.

Tammy Cavender a spokesperson for Labor and Industrial Relations says the state is now deciding how to pay back the loan.

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"Financial analsts were saying there were some issues with bonding and if that is the route that they would take to repay the loan, there would have to be a special session called in order for something to be done."

Bonding is one of several options the state is considering.

From the state Capitol, this is Bente Birkeland