For the third consecutive year, the state of New York has assessed all employers within the Empire State $12.75 for each employee to pay the interest the state owes the federal government for payment of unemployment benefits.  The state’s unemployment fund has long been bankrupt necessitating the loan from the US Treasury.  In typical government fashion, the fees go only to pay down $85 million in interest the fund owes annually on the $3.5 Billion in loans the fund has outstanding.  It makes no payments on principal!