Molly Munger's Proposition 38 has officially lost. Munger, a multi-millionaire and Pasadena civil rights attorney has personally spent more than $44 million on the Yes on 38 campaign. Her brother Charles Munger spent $3 million on the campaign.
Molly Munger joins the show to talk about the outcome of her proposition and what she thinks is next for California schools.
Her thoughts after hearing Prop 38 did not pass:
"Proposition 30 was supported by an enormous and powerful political machine, we certainly weren't so its not such a surprise that when the governor of the state and all of the muscle that comes with that gets behind something that its very hard for the underdog, But when the underdog still comes up with 2.5 million votes thats still pretty good. You have to look at it that way, we're fighting for the kids."
On the future of California schools with Prop 30's success:
"Our schools are funded 47th in the country, our early childhood programs have been cut by a third, our public education system in California is in tatters, Prop 30 will not change that, it will not change that a bit, it will only prevent further deterioration in an already dismal situation. we have got to turn California education around and its a long battle. This is just the opening round, this is not the end, this is the beginning."
On whether she has any regrets after spending $44 million on her campaign:
"Proposition 38 would have brought $120 billion over 12 years to our public schools. Was it worth $45 million for a change to get $120 billion for our kids? Absolutely, even if the odds were long. Learn by doing, when there's something you want to do, start doing it, pursue it, try to make it happen. You can't just sit there and say well its too hard, the hills too high I can't. You have to say, look, the voters show in polls that they want to support the schools. The schools desperately need it as a matter of policy. When you have its the right thing to do and the voters know it, somehow there's got to be a way to unlock the formula to bring those two things together and get it done and we will get it done if we keep working on it.
On whether she'll run for office some day:
"I am a civil rights lawyer, and I love being a civil rights lawyer, and I'm 64 years old and I want to stay one until the day I die. That's my ambition, and it's funny to me that people always ask me this about do I want to run for office. I think, 'Are you kidding? I love what I wouldn't like to be a public official.' When you're a public official you have so many ceremonial duties and you have so many, I don't know, there's an awful lot of constraints and boxes that you get into in that role. I see it because I'm an advocate so often for public officials and I see how tied up they are and when you're an advocate you're much freer you can do the right thing, you can just say it like it is, and that's just a much more comfortable role for me."