Via WRAL: Nearly 5,000 in N.C. will lose…

Via WRAL: Nearly 5,000 in N.C. will lose unemployment benefits. Oh shit! Things are so bad, we can’t even keep people going on existing government subsidies! What are we going to do?!

Cool your jets, turbo:

David Clegg, deputy chairman of the North Carolina Employment Security Commission, said Friday that by mid-June, 4,936 people will have maxed out their benefits. State law and federal stimulus act allow for 78 weeks of coverage.

Oh. People who’ve been unemployed for a year and a half are losing their government subsidy. That… government that has a massive budget shortfall because it’s spending too much on… subsidies. Hmm. Isn’t this a good thing, then? It’s helping the budget problem!

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