Analysts agree that Proposition 71 will at least pay for itself over the life of the bonds. According to Somers (2004): "The economists from Stanford University and the Analysis Group predict that the initiative would generate at least $6.4 billion. They say it would generate $2.2 billion to $4.4 billion if it could expand the state's biotechnology industry by about 5%, with new jobs, construction of new buildings and increased revenue. If the research could reduce health care spending by 1% to 2%, the direct savings in health care costs to the state government would be $3.4 billion to $6.9 billion, on just the care and treatment of patients suffering from six of the medical conditions scientists think could benefit from new stem-cell therapies."

Still, there is no guarantee that life saving, cost-saving therapies will be found (Somers, 2004). Even if they are, scientists say it is many years away. Therefore, Proposition 71 may be wasting taxpayers' money for many years, simply because the federal government refuses to fund this important research.

Johnson believes that analysts' projections are based on the "ludicrous assumption" that health care costs will decrease, when there is no certainty a beneficial therapy or cure will come about (Somers, 2004). He points out that embryonic stem-cell research has yet to come up with a single cure to date.

There are no guarantees of a medical breakthrough in stem cell research (Honolulu...

However, anyone who knows someone afflicted with any of these diseases would agree that if there's even a slight chance of success, it should be fully explored. For this reason alone, the federal government should take responsibility for funding stem cell research.
References

Associated Press. (November 4, 2004). Californians approve stem cell research funding. USA Today. Retrieved from the Internet at http://www.usatoday.com/news/politicselections/vote2004/2004-11-02-ca-initiative-stem-cell_x.htm.

Cahill, Lisa Sowle. (2001). Stem Cells: A Bioethical Balancing Act." America 184.10: 14-19.

Friedrich, MJ. (2000). Debating Pros and Cons of Stem Cell Research.JAMA 284.6 (2000): 681-82.

Honolulu Advertiser. (October 27, 2004). Stem cell research is worth exploring. Honolulu Advertiser. Retrieved from the Internet at http://the.honoluluadvertiser.com/article/2004/Oct/27/op/op02p.html.

Moran, Jim. (2003). Embryonic Stem Cell Research. The Humanist 63.4: 41.

MSNBC. (November 3, 2004). California gives go-ahead to stem cell research. Retrieved from the Internet at http://www.msnbc.msn.com/id/6384390/.

Somers, Terri. (October 8, 2004). Prop. 71 opens tap for stem-cell studies. The San Diego Union Tribune. Retrieved from the Internet at http://www.signonsandiego.com/uniontrib/20041008/news_1n8stemcell.html.

University of California. (October,…