TOLD YOU SO!!!
Arnold's not off to a great start.
During the campaign, he told us "Milton Friedman is right, and Karl Marx is wrong!" (ignore for the moment that our concern isn't whether he agrees with Marx, but Clinton)
However, consider Friedman in his own words:
"I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible. The reason I am is because I believe the big problem is not taxes, the big problem is spending. The question is, 'How do you hold down government spending? Government spending now amounts to close to 40% of national income not counting indirect spending through regulation and the like. If you include that, you get up to roughly half. The real danger we face is that number will creep up and up and up. The only effective way I think to hold it down, is to hold down the amount of income the government has. The way to do that is to cut taxes."
Now compare that to Arnold's plan to finance our current defecit on the backs of future generations. Something tells me Friedman might not approve.
Arnold. Milton Friedman is right, and YOU'RE WRONG!