Vance Ginn talks upsides of spending constraints, not many tax bindings

States have various ways of constraining spending. The bond market prevents some states from overspending. Others, like Colorado and North Carolina, have built-in measures to restrict revenue or spending. Many states have balanced budget amendments, ensuring spending matches revenue. Colorado's tax payable of rights set a precedent for spending limits based on population growth and inflation. Colorado, North Carolina, and Texas are leading the way in setting spending limits for all states with high spending.