M
mlchance
Guest
California is in poor financial shape. In fact, Arnold Schwarzenegger won the governorship by promising to shape up the state’s finances. Two days ago, Governor Schwarzenegger took on a supposedly sacrosanct issue - state pension funds. The state pension fund was, in the governor’s words, “another government program out of control, threatening our state.” But wait a minute. Wasn’t this the same governor who came out in favor of the ballot initiative, Prop 71? Readers will recall that the aim of Prop 71 was to fund embryonic stem cell research in California to the tune of an additional $6 billion to be added to the state’s debt. Such research is too risky for the “venture capital” crowd in California (but isn’t the purpose of venture capital to take risks?). So they found a patsy: the California taxpayer. Now, poor and working people will be funding the biotech fantasies of the rich.
– Mark L. Chance.
– Mark L. Chance.