Borrowing future lottery and tobacco revenue WORST idea

In the land of double and triple negatives, columnist Robert Robb is now king.  In his piece for today, he called anything short of cutting all $3 billion, a bad option, and then he started giving degrees of bad (least worse).  The biggest point?

Securitizing the lottery and tobacco revenue streams are the worst option of all.

Worst.  Idea.  Ever.

Worst. Idea. Ever.

And he is right.  Its like taking out an equity line to buy gas.  Its like taking out a payday loan to pay the electric bill.  Credit card to buy comic books?

Robb says the least worst ideas are delaying payments and a temporary tax(!).  Good heavens!  Get Gould and the gang on the phone.  They may have lost an ally.


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