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California is up to it’s you know what in debt.  The next move is for the government to issue IOU’s.  I’m sure that will go over great.  Can you eat IOU’s?  Do they taste good?  Can you pay for your kid’s education with them?  California is also up to its you know what in ballot propositions, and this, quite frankly is the problem.  Ballot propositions have come to supplant work that ought to be done by the legislature.  The legislative process may be messy, but in the end it gets (some) things done.  Ballot propositions on the other hand express the full will of the people, no matter how ill advised.Let’s take a quick example.  Proposition 13, officially title the “People’s Initiative to Limit Property Taxation”, enacted by the voters of California on June 6th, 1978.  This legislation fixed real property taxes at 1% of assessed valuation, essentially reducing the income stream from that sector by 57% at that time.  The measure also contained language that stated a maximum increase of 2% per annum in assessed valuation until property was sold, at which such time the assessed valuation would be brought to market level.So not only did this measure drastically reduce state revenues from property taxes, it also created a two-tiered system of property valuations; old timers with fixed caps in valuation and newcomers to the game with much higher valuations.  Amazingly enough this nonsense has survived numerous legal challenges going all the way to the supreme court. So California is broke and heading down the tubes.  Maybe it’s time to rein in the Initiative process and put the legislature back in session.  Jeremy Myers is the Owner of Lyssabeths colorado wedding officiants