1,300,000 losing unemployment benefits math

1,300,000 losing unemployment an average of $350 per week = $455,000,000

$455,000,000 x 52 weeks = $23,660,000,000 per year.
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In New Jersey, the worst state to be hit, 90,300 will lose benefits immediately, and another 89,100 by July, 2014.

90,300 + 89,100 = 179,400

179,400 x $350 = $62,790,000

62,790,000 x 52 = $3,265,080,000 not spent that otherwise would have been by some in and around New Jersey over the next 12 to 18 months.
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North Carolina owes $1,864,772,330 to the Federal Unemployment Account (FUA), that  provided for loans fund for state unemployment program benefits the Governor cut off recently.

California owes $9,585,434,468

http://www.ncsl.org/research/labor-and-employment/state-unemployment-trust-fund-loans.aspx
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There was no free lunch.