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...deficit of $38 billion. This wasn't entirely his fault-the recession had caused capital-gains tax receipts to plummet from $17 billion to $4 billion-but Davis had not been honest about the looming disaster during the campaign, and instant karma got him in the form of Darrell Issa, a millionaire paleo-conservative Congressman who bankrolled the successful recall petition drive...

Author: /time Magazine | Title: California's Bad Karma | 8/4/2003 | See Source »

...replaced by Candidate X with 10%. There will be dozens, perhaps hundreds, of candidates. All it takes is $3,000 and 150 signatures to get on the ballot. Larry Flynt of Hustler Magazine has declared. Both millionaire Michael Huffington and his egregious ex-wife Arianna may run. Darrell Issa is running; William Simon seems to be. There may be one or two well-known moderates amid the flotsam-perhaps the aforementioned Riordan, for whom victory would be vengeance most sweet. But any victory is likely to be tarnished. "This could hurt Republicans nationally," says Schrag. "It could remind voters...

Author: /time Magazine | Title: California's Bad Karma | 8/4/2003 | See Source »

...backers of the recall petition - bankrolled by Republican Congressman Darrell Issa, who sees himself replacing Democrat Davis - announced last week that they had collected more than one million signatures. The names have been forwarded to the secretary of state for review. Getting that many signatures in a state of more than 34 million people wasn?t hard: Plenty of Californians are angry after witnessing their state get sucked down a financial black hole during the past three years. In 2001, price gouging energy companies took advantage of botched deregulation to subject the state to rolling blackouts. Shortly afterward, Silicon Valley...

Author: /time Magazine | Title: California WIll Regret a Recall | 7/17/2003 | See Source »

...Davis? Republican detractors shouldn?t be cheering this recall either. This is a lose-lose situation for them. There?s no limit to the number of replacement candidates on the recall ballot. That means Issa may be joined by fellow Republicans Arnold Schwarzenegger, former Los Angeles Mayor Richard Riordan, losing gubernatorial candidate Bill Simon, and others, not to mention various third party candidates and opportunists. Whichever candidate wins the largest share of votes, even if it?s 5% or less, becomes the new governor. The Republican state party chairman has made noises about trying to rally the party behind...

Author: /time Magazine | Title: California WIll Regret a Recall | 7/17/2003 | See Source »

Both Democrats and Republicans believe that a recall vote against Davis is inevitable--either in the fall or next March--and with Davis scoring as low as 21% in some polls, Republicans realize they have a chance to win back the country's most visible governorship. Issa may be too conservative (and abrasive) to win statewide office, but former Los Angeles mayor Richard Riordan tells TIME that he and actor Arnold Schwarzenegger, both moderates, have talked about running against Davis. Schwarzenegger isn't discussing politics while he promotes Terminator 3: Rise of the Machines, which opens this week, but, says...

Author: /time Magazine | Title: California Scheming | 7/7/2003 | See Source »

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