Minnesota’s two-week government shutdown appears to have been resolved. I wrote about it in this column, drawing a comparison with the federal debt ceiling and deficit showdown.

The Republican legislature and Democratic governor travel down a well worn road to covering budget gaps.

The deal raises the revenue Dayton sought — $1.4 billion — but without raising taxes, which Republicans opposed. Instead, it reaches back to an earlier GOP offer to rely primarily on more borrowing from schools and from the sale of tobacco bonds.

Washington went the tobacco bond route back in 2002. Here’s how that worked out (from Gov. Gregoire’s press release earlier this year).Listing bad budget fixes tried earlier, she cites:

The decision in 2002 to borrow $450 million through securitization of tobacco settlement payments. The action will ultimately cost the state $1 billion in principal and interest, and has resulted in the state receiving $100 million less per biennium in tobacco settlement funds.

Apparently they figured they had to do something and quickly. I thought they’d stay stuck a while. I underestimated the importance of getting a cold beer on a hot Minnesota afternoon.