[Gabz]

What the states are doing now with tobacco is called securitization. They are selling bonds to get cash now and using the years of revenue that they are expecting from the tobacco settlement to pay the principal and interest on the bonds. So they are forgoing a steady stream of revenue well into the future for the use of that money today.

What steady stream of revenue? What these financial wizards (mental midgets) in state government are failing to remember is those funds from the tobacco settlement are based 100% upon the sale of cigarettes.

Many of the states which increased their cigarette taxes to balance their budgets, while seeing an increase in tax revenue in the short term, have already seen a drastic decrease in perpack sales. As more smokers find other means of obtaining their cigarettes, or quit altogether, the amount of tobacco settlement money will decrease proportionally.

It's no wonder these jerks are in government, they would never make in the real world (the private sector)

[Just another Joe]

It's no wonder these jerks are in government, they would never make in the real world (the private sector)

With apologies to any teachers out there -
Those who can't do - teach
Those who can't do OR teach - go into government service.

There are exceptions that prove the rule but can anyone name them?