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			<p id="updated">Posted  on 03/07/09</p>
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			<h2>CalIfOrnia U $3.4-billion</h2>
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<p class="byline">
								
                                
 SINCLAIR STEWART
									
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<li class="bio">| <a href="http://v1.theglobeandmail.com/opinions/columnists/Sinclair+StewartBio.html" title="Read the biography of Sinclair Stewart"><abbr title="Biography">Read Bio</abbr></a></li>
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			NEW YORK -- Five years ago, when he took the stage at the Republican National Convention in New York, Arnold Schwarzenegger took a moment to chastise the pessimists who dared question America's financial hegemony.
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