Results of Bush economic policy: The rich got richer, while the poor got poorer (and more numerous). Sadly, this is not terribly surprising; some have been saying that this was the plan from the beginning. (That letter is by David Brin, a former Lloydie; it’s not very well written but still the most memorable thing I ever read on Slashdot.)
And apparently this is the remedy Arnold has in mind for California. I’ll pass, thanks.