Get rid of the rainy day fund

The Austin American-Statesman reports that the Texas Legislature is working on some constitutional amendment bills that would potentially spend parts of the state's "rainy day fund" on public schools, transportation, and water projects.

The fund current has around $8 billion, and it keeps growing.

How about an amendment that eliminates the rainy day fund and refunds the money to taxpayers? That's something Libertarians could get behind.

It's a bad idea to put giant piles of money in government bank accounts. For one thing, it's a temptation to engage in these massive "one-time" expenditures that can raise expectations and dependency, leading to long-term growth in government programs.

Don't spend it -- end it!