Education: CA Schools, 60 billion, and Melinda Gates

In today's WSJ, Melinda Gates implies that the 60 billion dollars the Gates Foundation possesses might not be as grand as it sounds. Ms. Gates reveals that the state of California spends 60 billion per year on education alone. Yup, 60 billion dollars on education every single year...and California is ranked among the lowest in the nation (47th or so) in educational attainment.