The following text is from the Courage Campaign web site.
California faces financial "Armageddon," as Arnold Schwarzenegger bluntly stated a few weeks ago. And yet Arnold and his fellow Republicans are rejecting compromises by Democrats to rescue our state from a catastrophic budget crisis, unparalleled in the history of California.
Because of the ridiculous 2/3rds budget rule-the super-majority required to pass a budget in the California state legislature-and Arnold's failure to twist the arms of a small cabal of recalcitrant Republicans, Californians will be getting IOUs in the mail next week instead of financial aid checks or tax refunds.
Many Californians are so overwhelmed by this paralyzing crisis that they've just tuned it out. As a result, Arnold is not being held accountable for his failure to lead.
That's why we decided to try something a bit unorthodox-raise awareness by using humor to highlight the absurdity of these IOU's, or what we like to call "Arnoldbucks."
download your Arnold Bucks here…
Has Gov. Schwarzenegger been a disaster? Surely so, though not for the reasons the Courage Campaign says. Despite his promises to the contrary, he manifestly failed to bring fiscal responsiblity to Sacremento. Indeed, five years into the Era of Arnold, the governor has blown out the state budget from $100 billion to $145 billion, with a whopping project deficit of something on the order of $28 billion. In such a situation, it's wrong to argue that the problem is not spending even more money or that super-majority rules are a bad idea. The problem is the spending in the first place.