The state’s critical economic situation demands care both in spending and in the issuance of state bonds that deepen California’s debt and commit major sums of money for the future. The November ballot includes Propositions 1, 3, and 12, requesting investments in transportation, children, and veterans, respectively. We believe that now is not the time to approve all three measures.
Proposition 1 asks for $10 billion, primarily for the construction of a high-speed train between Los Angeles and San Francisco. The idea is a good one, but the timing is bad. The final cost of the bonds will be $19 billion, and we believe this project can wait.
On the other hand, what cannot be delayed is the construction, expansion, remodeling, and renovation of children’s hospitals. Proposition 3 proposes a $980 million bond issue, and 80% will go to the hospitals that care for minors with illnesses like leukemia, cancer, heart defects, diabetes, and cystic fibrosis, among others. Moreover, five of the 13 hospitals designated to receive funds are located in Orange and Los Angeles counties.
Proposition 12 also deserves support, since it continues the state’s tradition of granting low-interest real estate loans to Armed Forces veterans. In the past, the veterans themselves have paid the cost and interest of the bond through their mortgage. In this case, taxpayers will not have to pay for the $900 million bond issue, and veterans will receive well-deserved aid.
In short: Vote yes on Propositions 3 and 12; and no on Proposition 1!
