The libertarian Cato Institute has graded the governors that it thinks are likely to run for president in 2008.

Colorado Gov. Bill Owens (R) leads the pack of governors eyeing a 2008 presidential run when it comes to small government, according to a new study from the Cato Institute.

The libertarian-leaning think tank’s Fiscal Policy Report Card scored governors on an A-to-F scale based primarily on whether they cut taxes and spending or raised them over the past two years. Owens was the only potential presidential contender to receive an A. Not far behind, with a B grade, was a Democrat, New Mexico Gov. Bill Richardson.

Last among the ’08 possible contenders was Virginia Gov. Mark Warner (D), who pushed a $1.5 billion tax increase through the commonwealth’s GOP-controlled Legislature last year. Warner received a D. None of the potential White House aspirants got an F grade.

I'm pleased that my own Governor Arnold received the highest rating, but he will of course not be running for president. I'll be happy if he can just keep our military bases from closing, which neither Governor Davis nor Governor Wilson was very successful at.

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