TABOR

Colorado, about a decade ago, passed the Taxpayer's Bill of Rights, popularly called TABOR. It was a constitutional amendment that limited the Legislature's ability to grow spending to the rate of inflation plus population growth. Any funds taken in by the State in excess of that were to be returned to the people as refunds or tax rebates. That cap could only by broken by the voters approving a referendum. The press of the time were vociferous in their opposition, fearing that greedy citizens would hobble the State's ability to meet its obligations and needs.

Turns out they were wrong, of course. The politicians have repeatedly gone to the people to request new or increased spending on state programs and have had them approved.

Bill Hobbs has more on this here and in the post immediately below it.

A valuable lesson for Tennessee's media and politicians.

Until next time, that is all.