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Voter-approved ‘rainy-day fund’ on life support

OLYMPIA–Over a decade ago, in November of 2007, Washington voters proved their intelligence, foresight, and practicality by approving the state’s constitutional “rainy-day fund.” Here is an excerpt from the Voters’ Guide:

“Every year 1% of state revenues are automatically put into the fund. Until the fund reaches 10% of state revenues, the money can only be spent when the economy declines seriousl...