IBD: Beyond Our Means

INVESTORS BUSINESS DAILY/OPINION, posted 07:05 PM ET - Health Care: The California Senate voted last Thursday to create a government-run single-payer medical care program. Do the 22 lawmakers who voted for this bill realize that the state will run out of cash before April? ∴ The state is facing a $20 billion deficit. It's bleeding money. To close the gap, Sacramento will probably cook up some brew of tax hikes, pay cuts for state workers and program cuts. ∴ Despite the deep troubles, the Senate wants to add a program that is expected to cost $200 billion a year, which, in fact, is likely far short of what the plan will actually cost. Read more at IBD...

Good grief! --bc