Dennis Tuuri

Full PEAPAC Analysis

PEAPAC Explanation: Measure 48 limits how much the State can spend, but not how much it can receive in taxes. State spending would be limited to the previous budget period, adjusted for inflation and population growth.

PEAPAC Comment: Astonishingly, state spending has increased roughly 8 percent a year for each of the past twenty-five years. In 1 Samuel 8, God warns us about over-reaching governments. They will take more than they should, and they will spend every bit of it. One way to control this is to limit taxes. But in good times and lean, this brings problems. In good times, the state will have lots of money to spend, and probably do stupid things with it. In lean times, tax revenues will diminish, and it will be hard to cut programs that may be more needed than ever.

Measure 48 takes a different, and we think, better approach. It restricts state spending to present levels, adjusted for inflation and population growth. In good economic times, the excess can’t be spent, but it can be saved in a rainy day fund. It could then be used in lean times, when taxes fall, and needs increase. The spending cap imposed by this Measure could be suspended and the funds put to use in the event of a true “rainy day,” as defined by a vote of the House & Senate and the approval of a simple majority of voters. The course of financial wisdom according to the Bible, is to stay out of debt and save for the future. Measure 48’s spending limitation and savings provision helps the state do just that. We strongly urge a Yes vote on Measure 48.