The interview began with the now perfunctory admissions of guilt and regret about cheating on Maria Shriver with their live-in housekeeper, but things didn't get interesting until Schwarzenegger and Stewart started dissecting the broke(n) state of California.
The good news? The Golden State is a "perfect symbol." The bad news is that California is a perfect symbol of everything that's wrong with the United States.
"They make it so you can't raise taxes but the people can also vote on what they want," said Stewart on California's ballot proposition system. "So it's the perfect symbol for the difficulties we have in the country of getting the services we want while convincing people that they do have to pay for it."
Schwarzenegger then tore into California's legislature for trapping the state in a pension agreement that has resulted in $400 billion of unfunded liabilities. Because of the state's commitment to pension payments, said Schwarzenegger, money has to be re-routed from investments like education and infrastructure.
"It's kind of like you're living in the past, taking care of things in the past, rather than looking to the future to start building more roads and more schools," explained Schwarzenegger.
"This was something done by the legislature, not the people," Schwarzenegger continued.
Watch part two of the interview, where Stewart gets distracted by something shiny on Schwarzenegger's hand.
In part three of the interview, Schwarzenegger explains why he's not a Democrat.