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Prop 4 issues $1.5B for children's hospitals
Published on 10/12/18, 10:00 AM
funding for renovations and new construction.
What's going on?
California's children’s hospitals receive a majority of their funding from Medi-Cal, the state’s insurance program for low-income residents, which means they often lack the funds to keep up with their infrastructure costs.
Prop 4 would issue $1.5B in general obligation bonds to renovate and upgrade CA’s children's hospitals, specifically eight private, nonprofit hospitals ($135M each), five UC medical centers ($54M each), and other hospitals that treat children in specialized wings ($150M).
General obligation bonds are loans from investors that are repaid by the state over time with interest. The $1.5B would cost us $2.9B over 35 years, or $80M annually (roughly 0.1% of our annual budget).
Prop 4 would issue $1.5B in general obligation bonds to renovate and upgrade CA’s children's hospitals, specifically eight private, nonprofit hospitals ($135M each), five UC medical centers ($54M each), and other hospitals that treat children in specialized wings ($150M).
General obligation bonds are loans from investors that are repaid by the state over time with interest. The $1.5B would cost us $2.9B over 35 years, or $80M annually (roughly 0.1% of our annual budget).
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Sign upWhat is this?
Do we always fund private hospitals?
Critics say we shouldn’t. They argue private hospitals should be primarily funded by private donations or pre-existing state funds, not new debt. Since state funding for hospital infrastructure has been cut, hospitals have successfully relied on bond measures to fund their operations. So far, the state’s eight private hospitals have contributed a total of more than $10M in support Prop 4.
Making fun and making points
Pretty much everybody is for this. I'm voting "duh yes."
Put your Libertarian hat on – what would they say?
That we shouldn't add more debt?
Do Libertarians wear hats?
As long as the government isn't subsidizing those hats, yes.
Seriously, why are we adding debt for something everybody seemingly agrees we ought to do?
If that's the case, we should just squeeze it into our budget, or have the hospitals pay for it.
Easier said than done.
Increasing spending pisses off taxpayers. And we cut children's hospital infrastructure programs back in the 90s.
The point is to avoid more debt. Kids are important, but the debate is good for us.
Sorry I couldn't hear you through my hat.
Campaign finance graphic brought to you by KQED and Voter's Edge.
More reading
No on Prop 4
LA Daily News Editorial Board
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Pretty much all rights reserved © By The Bay 2018
Pretty much all rights reserved © By The Bay 2018