CABs

An Illustrated Guide to the State Budget Tobacco Bond Time Bomb

An Illustrated Guide to the State Budget Tobacco Bond Time Bomb
Billions of dollars were promised to the American people after Big Tobacco's landmark settlement with the states. Government officials said it would be better to get the cash now (and to cover all sorts of budgetary needs), so the money was put into bonds. A bond is like a loan and like a loan, states spent that money. Now what?
origin Author: 
Cezary Podkul and David Sleight
origin Blog: