When talking politics or economics, it's usually a powerful rhetorical tactic to compare our own Colorado to California - especially these days. In that light, here's a fitting and timely reminder from state senator Ted Harvey:The lesson Colorado’s legislators must learn from this recession is clear: fiscal responsibility works. Even though the legislature collectively fell short of creating a rainy day fund, TABOR and the Arveschoug-Bird 6% spending cap forced Colorado legislators to keep spending low. Had the government enjoyed free rein in ramping up spending – which is a great temptation to many lawmakers tasked with spending other people’s money – Colorado’s budget crisis would be as serious as California’s. [emphasis … [Read more...]