'This Week' Transcript: Arnold Schwarzenegger

I think that he has done a great job. And I think California benefits tremendously from that $80 billion that is tax benefits there of around $35 billion. There's other advantages, $45 billion of monies that go to transportation, to education, to health care, and all those different areas.

And there's even some money in there that could benefit our -- our revenues or, I should say, our budget itself. We have a trigger language built in there so that, if some money comes to that, then we will reduce the cuts and we will increase the spending.

STEPHANOPOULOS: But Governor -- Governor Sanford and Governor Jindal and several other Republican governors are not only against the stimulus package in principle, because it's going to add to our debt, they say that some of the specific provisions, like some of the unemployment provisions, are going to guarantee -- make tax increases necessary in their states in future years. Is that what's going to happen in California?

SCHWARZENEGGER: Well, no, I don't see it this way. I see only a benefit to the state of California. That President Obama is going to eventually do a tax increase on the wealthier people, I think that writing is on the wall. I think he has talked about that during his campaign.

STEPHANOPOULOS: It's in the budget now.

SCHWARZENEGGER: And I don't like that, of course, but, I mean, I understand that he is to do what he thinks is best for the -- for the country, as much as I had to make decision what is best for the state of California. So I think there are certain things that are inevitable, especially when you have a crisis like this.

STEPHANOPOULOS: So when you see Governor Sanford, when you see the Republican leadership here in Capitol Hill absolutely opposed to this, are they being unrealistic?

SCHWARZENEGGER: No, I think that people have different opinions. I mean, I think that Governor Sanford is a very, very smart guy, but he has a different way of looking at that. And a lot of my colleagues look at this differently.

I look at it in a more optimistic way, and I feel very strongly that I think that President Obama right now needs team players. He -- this is why we're here in Washington right now. We have, you know, more than 40 governors coming together here in Washington, and our idea is to get together with the White House, with this administration, and to work together, to have Congress, the White House, and the governors, and everyone work together, because it's a very difficult time now, where we have to play together, rather than using politics and always attacking everything...

(CROSSTALK)

STEPHANOPOULOS: You know, Senator Arlen Specter of Pennsylvania agrees with you. And he was one of the Republicans who voted for the president's package. And he says that the rest of the party risks becoming the party of Herbert Hoover. Are you worried about that?

SCHWARZENEGGER: Well, you know, people always, you know, say that the Republicans are always the party of no and, you know, attacking the Democrats. You know, I don't think that the Republican Party is any different than the Democratic Party. I think that politics -- the horrible thing about politics is that, the more they attack each other, the more that they try to derail each other, the worse it is for the people. That's why...

STEPHANOPOULOS: But these are real differences of principle.

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