From Time, of all places, comes this column by Joel Stein:

It turns out that letting me vote on stuff is a bad idea, for much the
same reason that giving me a credit card was a bad idea: I love stuff
and hate paying for it. And it turns out there are a lot of people just
like me. On May 19, California voters knocked down all five of the
budget-cutting and tax-raising propositions designed to save the state
budget from being $21 billion short. We already had the worst credit
rating of any state.

The highlight of the piece comes from an interview with former CA governor Gray Davis:

Looking to complain to someone about the stupidity of this initiative
system, I called former California governor Gray Davis, who got voted
out of office through a recall petition. “I’m not for scrapping the
initiative process,” Davis said, to my shock. “I believe voters
generally make good decisions.” Even a recall, it seems, can’t stop a
politician from kissing up to voters.

HT: Jessica Pellien