November 8, 2006 10:50AM

Fiscal Results Mainly Bad

As a think tank that follows state ballot initiatives noted: "Voters seemed to be in a fiscally expansiive mood" [pdf] yesterday.

Caps on state government spending were rejected in Maine, Nebraska, and Oregon. The best chance for passage had been Maine.

As usual, voters fell for the ruse of voting for tax increases when they are called "bonds." Californians imposed $43 billion in tax hikes on themselves and the next generation of young people by approving multiple bond offerings.

There was some scattered good news. California rejected a proposal to raise energy taxes. And South Carolina voters approved a cap on property tax increases.

For further reading on the generally unhappy fiscal results, read here.