The Great FUTA Caper

What does this FUTA do for me? Where does it all go?
The FUTA tax is supposed to be returned to the states for three purposes: to pay for the administration of their systems to provide a fund from which states can borrow when their own funds are in trouble, and to pay for the federal benefit extensions when Congress grants them. However, just like any other government program, there is many a slip between cup and lip. For years now, the Feds have only returned about half the money they collect. The rest is kept in Washington to offset the deficit. No, legally, the money cannot be used for any other purposes. However, the Feds can certainly invest the money in bonds, by which shell game the fund is effectively transferred. And so, because of so-called "budget reconciliation", the Federal Government is able to brag that the deficit is lower than it really is. In plain English, Washington hoards billions and billions of your dollars just to make them look better. Here are the 1996 figures. Exactly five states and territories got back more from the feds than they paid in. Everyone else got ripped off.
STATE	PAID IN millions	GOT BACK millions	BANG FOR THE BUCK
Alabama	89.3	41.9	46.9 %
Alaska	11.7	32.0	273.5 %
Arizona	100.6	39.4	39.2 %
Arkansas	51.1	27.9	54.6 %
California	657.5	481.4	73.2 %
Colorado	97.0	43.3	44.6 %
Connecticut	76.3	61.4	80.5 %
Delaware	18.9	10.9	57.7 %
D.C.	18.7	15.3	81.8 %
Florida	321.5	110.8	34.5 %
Georgia	179.5	63.5	35.4 %
Hawaii	25.6	18.0	70.3 %
Idaho	23.6	21.9	92.8 %
Illinois	286.9	150.1	52.3 %
Indiana	137.1	50.2	36.6 %
Iowa	64.5	28.2	43.7 %
Kansas	59.4	25.2	42.4 %
Kentucky	80.0	33.8	42.3 %
Louisiana	85.3	36.4	42.7 %
Maine	24.4	20.6	84.4 %
Maryland	104.7	65.5	62.6 %
Massachusets	143.6	83.4	58.1 %
Michigan	218.3	126.2	57.8 %
Minnesota	120.2	51.2	42.6 %
Mississippi	51.9	26.0	50.1 %
Missouri	125.2	58.3	46.6 %
Montana	14.7	15.1	102.7 %
Nebraska	38.2	18.5	48.4 %
Nevada	46.3	25.3	54.6 %
New Hampshire	27.7	13.6	49.1 %
New Jersey	174.3	115.4	66.2 %
New Mexico	30.8	19.8	64.3 %
New York	356.1	233.6	65.6 %
North Carolina	180.7	65.4	36.2 %
North Dakota	12.2	13.8	113.1 %
Ohio	267.5	103.3	38.6 %
Oklahoma	62.4	29.5	47.3 %
Oregon	73.8	48.6	65.9 %
Pennsylvania	256.5	171.1	66.7 %
Puerto Rico	36.7	28.8	78.5 %
Rhode Island	21.1	20.0	94.8 %
South Carolina	82.1	36.5	44.5 %
South Dakota	14.5	10.8	74.5 %
Tennessee	126.6	44.6	35.2 %
Texas	417.7	162.1	38.8 %
Utah	45.3	30.8	68.0 %
Vermont	12.6	10.3	81.8 %
Virginia	154.6	56.5	36.6 %
Virgin Islands	1.6	3.2	200.0 %
Washington	119.6	91.0	76.1 %
West Virginia	30.9	20.1	65.1 %
Wisconsin	128.5	65.0	50.6 %
Wyoming	9.4	16.5	175.5%
Total	5915.2	3192.1	54.0%

What does this FUTA do for me? Where does it all go?