Tuesday, October 24, 2006

Arnold Terminates Fiscal Sanity

Continuing on the no too uplifting subject of California politics, it seems more likely than not that Republican Arnold Schwarzenegger, who rose to power in 2003 after a total recall of his predecessor Gray Davis, will win over his Democratic opponent Phil Angelides. The latest polls show Arnold being ahead 7%:points.

But his likely victory in the overwhelmingly Democratic state of California will come at the price of adopting Democratic policies. First he agreed to terminate jobs by raising the state minimum wage from $6.75 per hour to $8 per hour. He has also terminated his committment to small government and limiting spending.

In this report card from the Cato Institute, Arnold received the second lowest grade, a "D". The report points out that real (inflation adjusted) per capita spending is up 12% in just two years.

Even if Phil Angelides loses, it will be a true lie to claim that this will be a loss for Democratic policies, as they will instead be implemented by Arnold.


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