CGS-authored
One of the most foolish things California has done recently was passing Proposition 71, a $3 billion bond issue for stem cell research that will cost $6 billion, including interest.
By Stan Katten
California is known as a maverick state because it has adopted some leading-edge measures to curb air pollution, and Proposition 13 to curb runaway real estate taxes. It has also done some dumb things, like mandating electric autos despite a lack of adequate battery technology.
One of the most foolish things California has done recently was passing Proposition 71, a $3 billion bond issue for stem cell research that will cost $6 billion, including interest.
There are three things wrong with this measure: (1) It was passed on the false premise that research on embryonic stem cells was prohibited by the federal government; (2) it would save millions of lives and billions of dollars in California health care costs in five to 10 years; and (3) the bonds are "self-funding" because interest will be paid out of bond funds and the grants will be repaid by generating...
By Stan Katten
California is known as a maverick state because it has adopted some leading-edge measures to curb air pollution, and Proposition 13 to curb runaway real estate taxes. It has also done some dumb things, like mandating electric autos despite a lack of adequate battery technology.
One of the most foolish things California has done recently was passing Proposition 71, a $3 billion bond issue for stem cell research that will cost $6 billion, including interest.
There are three things wrong with this measure: (1) It was passed on the false premise that research on embryonic stem cells was prohibited by the federal government; (2) it would save millions of lives and billions of dollars in California health care costs in five to 10 years; and (3) the bonds are "self-funding" because interest will be paid out of bond funds and the grants will be repaid by generating...