But What About Colorado?
The Christian Science Monitor reports today that states are resorting to tax increases to fill budget shortfalls - and reveals that the elected officials who want to spend more are already prepping their people to expect more budget crises and more tax increases. But a few things are missing from the story. There's no mention of using spending growth restraint to deal with reduced revenues. There's also no mention of Colorado, which used a fiscal thermostat called the Taxpayers Bill of Rights to regulate spending which, amazingly, resulted in a balanced budget and a $927 billion tax rebate this year.