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Some states have actually taken out loans against future MSA payments… selling bonds with the intention that they would be paid off by future tobacco settlement funds. This has gotten them into even deeper financial trouble.

More than a dozen states have already taken out loans or are in the process, including Alabama, Alaska, California, Iowa, Louisiana, Maryland, Missouri, New Jersey, Oregon, Rhode Island, South Carolina, South Dakota, Washington, Wisconsin and the District of Columbia and Puerto Rico.4

In 2006 this was how the funds received by the states from the MSA were spent.



Click Here To View Full Document6

State Master Settlement Agreement Expenditures by Category (2006)


1 “How Big Tobacco got away with the Crime of the Century”, Pepe’s Non-Smoking Party Lounge, Pepe Lepew, March 28, 2011, http://theloungeisback.wordpress.com/2011/03/28/how-big-tobacco-got-away-with-the-crime-of-the-century/

2 “How Big Tobacco got away with the Crime of the Century”, Pepe’s Non-Smoking Party Lounge, Pepe Lepew, March 28, 2011, http://theloungeisback.wordpress.com/2011/03/28/how-big-tobacco-got-away-with-the-crime-of-the-century/

3 “The Master Settlement Agreement and Its Impact on Tobacco Use 10 Years Later: Lessons for Physicians About Health Policy Making”,  Walter J. Jones and Gerard A. Silvestri, Chest 2010 (the official journal of the American College of Chest Physicians); 137; p. 694.

4 “Securitizing State Tobacco Settlement Payments Myths vs. Facts”, Campaign for Tobacco-Free Kids, Dec. 12, 2002, www.tobaccofreekids.org.

5 “The Master Settlement Agreement and Its Impact on Tobacco Use 10 Years Later: Lessons for Physicians About Health Policy Making”,  Walter J. Jones and Gerard A. Silvestri, Chest 2010 (the official journal of the American College of Chest Physicians); 137; p. 694.

6 “The Master Settlement Agreement and Its Impact on Tobacco Use 10 Years Later: Lessons for Physicians About Health Policy Making”,  Walter J. Jones and Gerard A. Silvestri, Chest 2010 (the official journal of the American College of Chest Physicians); 137; p. 694.




 
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