[jackbill]

Has Davis sold off any of his future "tobacco money" as DemocRAT candidate for governor of Maryland (Kathleen Kennedy Townsend) is planning to do if elected - and as some other states have done?

Her new plan to get rid of a $1.7 billion projected deficit is to sell off 10% of the approx. $150 million per year that Maryland gets at 72 cents on the dollar and to authorize the legislature to sell off another 30%.

To me, it's like AIDS patients selling their insurance policies for ready cash.

[Robert357]

Has Davis sold off any of his future "tobacco money"

The yeild on those California revenue bonds was around 6%, which is a pretty high cost of money.

They are robbing Paul to pay Peter and the future be damned.

[John Jorsett]

Has Davis sold off any of his future "tobacco money" as DemocRAT candidate for governor of Maryland (Kathleen Kennedy Townsend) is planning to do if elected - and as some other states have done?

Oh yeah. He sold bonds that will be repaid from the tobacco money in order to balance this year's budget.

[snopercod]

Has Davis sold off any of his future "tobacco money"?

Yes. He is borrowing against anticipated tobacco revenues.

He has also "borrowed" against the California Employees Retirement Fund, the State Teachers Retirement Fund, the Dentists Retirement Fund, the pop-bottle deposit fund, and the Highway Trust Fund (this last in direct violation of a people's initiative which prohibited such things.)