Reason's George Passantino was a director of Gov. Schwarzenegger's California Performance Review. He has a piece in today's LA Times about what Arnold has (and has not) done so far:
He has traveled to other states, recruiting businesses to come to – or return to – California. He also vetoed a number of bills that would have further undermined the state's still-recovering economy, including a minimum-wage increase. Perhaps most important, he resisted tax increases.
Moreover, Schwarzenegger demonstrated how his popularity and celebrity can help shape policy. By threatening to run a ballot initiative that would dramatically alter the workers' compensation system, he cajoled the Legislature to compromise and adopt a number of needed reforms.
However, efforts to restore the state's fiscal stability have not been as successful.
Read the whole thing here.