How Wall Street Tobacco Deals Left States With Billions in Toxic Debt
Gregory Alan Bolcer stashed this in Dangerous Decisions
Stashed in: Economics!
States reach settlement. States borrow against settlement. States spend windfall cash on things not related to the settlement. People stop smoking and paying the taxes. You'd think that'd be a good thing as now all those healthcare costs caused by smoking are no longer required to be state supported, but...States go bankrupt because they wasted all the money.
The moral of this story is, don't count your chickens before they hatch.
Also, don't let states spend money they don't actually have.
You are wise beyond your years! You should run for governor! :-)
Political office is last in the list of jobs I would ever consider doing.
And I've watched Mike Rowe's Dirty Jobs.