Shockingly, Arnold Schwarzenegger Compares California To Greece, Ireland, And Spain

ronald reagan arnold schwarzenegger

Photo: www.reagan.utexas.edu

OK, so it’s not just us.At his big press conference yesterday, where he announced “absolutely terrible” budget cuts in California, Arnold Schwarzenegger went there, comparing his state to the PIIGS of Europe.

His exact quote, via Reuters: “You see what is happening in Greece, you see what is happening in Ireland, you see what is happening in Spain now… We are left with nothing but tough choices.”

You have to admire his candidness. He’s right, after all.

Among the “tough choices” include the eliminating of CalWORKS, state-funded child-care programs, In-Home Supportive Services, Health Families program and 5% pay cut for state workers. This is going to go down horribly.

Now don’t miss all 16 reasons California is the next Greece >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.