California has the same provision in its constitution. Trouble is, the government bypasses it with tricks every year. They 'project' revenues that will never attain the levels they say. They assume rosey interest rates for borrowing. They (illegally under state law) finance ongoing operations using borrowed money. With one-party rule like we have, there's no stopping them, except like now, when the Republicans are digging in their heels and refusing to go along. The only thing standing between Californians and huge tax hikes is the two-thirds requirement to pass a budget. The Dems are talking about an initiative to lower that to 55%, something that they managed to get approved by voters for bond issues a couple of years ago. Surprise, bonded indebtedness shot up as every single statewide bond issue was approved in the last election.
Here in Arkansas it is no different.(we were only about 120 million short or less) You cannot cut something because every spending cut causes the whine and cheese bunch to complain. Then the same bunch complains about the cost.
It never ends.