Resizeable text boxes that would fit the text inside the text box

Idea created by jeanettab on Sep 4, 2012
    Implemented
    Score140
    A functionality from ArcView 3.3 that I really miss:

    resizeable text boxes that would fit the text inside the text box.  Unless I am missing something, I cannot figure out how to type paragraphs without having to know the size I need the text box and enter carraige returns to make the text fit within the text box.

    Thanks!
    Jeanetta