What happened to all the gobs of money he raised last year? They all went into the Very. Special. Election, which shows just what a crazy, kamikaze-like move that last election was. He basically spent all of his political capital and all of his money to do something that nobody liked and was soundly beaten. If it was one of his movies, the whole thing would be theLast Action Hero.

Still, this doesn't mean much in the long run. Arnie is a very, very rich man and has used his personal fortune to fund his campaign in the past. Plus, as a celebrity he always has other ways of getting money if money is needed. Like maybe he could open a restaurant chain with his other celebrity friends that feature props from some of his movies. That would totally be awesome. Who wouldn't want to go to a restaurant like that? It also goes without saying that as the only Republican out there, he's got plenty of money bags to tap into and unless they manage to convince Mel Gibson to run against him, he won't have to spend any of his money until after the primary in June. His opponents, meanwhile, will have to spend a lot of their money duking it out over the next few months and might not have that much money on hand come November.

His opponents, that being Steve Westly and Phil Angelides, are flush in cash. Westly has over $20 million in the bank, most of it his. And you wonder where all that money went buying all those obscure LPs and tchotchke items on EBay went to? Angelides has about $17 million on hand, a war chest accumulated by campaigning for a long time and through celebrity friends such as Norman Lear, Nancy Sinatra, Oscar de la Hoya, and SFist's ex-girlfriend, Dana Delaney.

Let the fund-raising begin!