See http://en.wikipedia.org/wiki/Unemployment_insurance for a basic overview of the federal unemployment insurance system.
See http://nelp.3cdn.net/03f85efcaa9c423b78_gjm6bnku9.pdf for a National Employment Law Project briefing paper entitled “Bond Financing For Insolvent State Unemployment Insurance Trust Funds” of January 2004 discussing the impact of funding insolvent UI funds with bond proceeds.
See this entry for more information on certain working capital matters relevant to funding federal unemployment accounts.
Private Letter Ruling 200446006
Private Letter Ruling 200846018