SQ 708: Rainy day restraint

SQ 708 would reduce the amount of the rainy day fund that the Legislature can spend during revenue shortfalls and emergencies. This is a good thing. The Legislature has declared emergencies at the drop of a hat and spent reserve funds when it was merely "partly sunny" leaving nothing in the bank for the really rainy days of the recent recession. This amendment would impose some needed restraint. I'm voting YES.