In 2003, Arnold Schwarzenegger defeated Gray Davis to become the governor of California, and in doing so earned himself the nickname "The Governator," in reference to his hit movie "The Terminator," signifying the end of political incompetence.

Schwarzenegger’s win stemmed from his larger than life personality and his hero status as the epitome of the American dream.

Schwarzenegger was an immigrant with a thick accent who first conquered the competitive world of bodybuilding; became the world’s most famous movie star; and lastly achieved one of the highest feats in politics, governor of California.

But after two terms he now leaves the state in crisis, struggling to pay off a $19.9 billion budget deficit.

The crisis has put his reputation in the balance and his approval ratings at only 22 percent.

His likely successor, Democrat Jerry Brown, will be tasked with bringing California back to prosperity in 2011 (polls give Brown a near unassailable lead in the gubernatorial race).

The deficit isn’t entirely Schwarzenegger’s fault; the states budget woes have been 40 years in the making with large pension plans for state workers now coming into effect.

Ironically, it was Brown’s pro-union policies, when he held the governor position from 1975 - 1983, which gave rise to the now unaffordable pension pay outs.

His huge retirement concessions to state workers gave full pensions to those who retired at the ripe old age of 55.

It should be noted Schwarzenegger came to office with the intention of ridding America’s most populous state of its already high budget deficit.

His first two acts were to employ a $15 billion bond and spur growth by deferring the vehicle license fee for a year.

However, the bond placed a huge debt on Californian citizens, and the deferment cost the state a hefty $6.5 billion (the $300 given back was intended to boost spending).

Schwarzenegger has put forth a proposal to tackle the deficit between 2010 and 2011. Many of the savings will hit Californians hard, reducing state contributions to education and youth programs.

Before 2003, Schwarzenegger already had a checkered past: his vociferous sexual appetite was well documented, an unofficial biography written by Ian Halperin claims Arnold makes Tiger Woods "look like a saint," and Schwarzenegger freely admits to drug abuse, especially marijuana.

His work to legalize medical marijuana has been controversial; in 2009 there were more marijuana dispensaries than Starbucks in Los Angeles.

Schwarzenegger’s policies have put him at odds with his own party, and given him a reputation for being a liberal Republican.

His marriage to Maria Shriver (niece to John F. Kennedy), of whom he has four children with, is already a statement in itself.

Nevertheless, Schwarzenegger is a man of principle; he turned down $100 million for offshore drilling rights due to its potentially devastating effect on the environment. He has championed causes to make California greener and protect wildlife. And rumors have it that Schwarzenegger will take up a role in President Obama’s White House to work on federal environmental policies.

"The Governator" is sure to "be back" in the headlines come 2011. Schwarzenegger confirmed he is working with director James Cameron ("Titanic," "Avatar") on a new project, and plans to write an autobiography.

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