Calif. to Vote on $3B Stem Cell Project
Let's take out another $3B in loans for stem cell research. The plan is to distribute the money in grants over roughly ten years and pay it off over the next 30 years. The interest would cause this $3B of funding to cost CA taxpayers roughly $6B.
What will it take for people to understand that CA needs to be making hard choices about painful budget cuts, not finding new discresionary spending opportunities? If Bill Gates, Silicon valley tycoons, and Hollywood celebrities want to fund stem cell research, then why don't they fund it themselves? Instead they're choosing to bankroll a campaign to get all of CA to pay for it.
They can use their money buy TV ads to promote the idea. But where's the money to fund the campagin against the initiative going to come from? So far, there aren't a lot of big donors.
Maybe I should start an initiative to require all people who give money to support an inititative's promotion give an equal ammount to support the anti-inititive campain. :)
Call me a cynic, but this is so outrageous, I have to wonder if the rich folks backing this are just trying to drive up the yields on tax-free CA municipal bonds And they get to act like they're working for the public good.
Yahoo! News - Calif. to Vote on $3B Stem Cell Project
