Five years ago, Arnold Schwarzenegger took over a state drowning in red ink, brimming with confidence that he and the Legislature would forge a bipartisan solution that would put California back on sound financial footing. “I know there are some who say that the Legislature and I will never agree on solutions to our problems,” the internationally famous bodybuilder and action-movie star said in his Nov. 17, 2003, inaugural address. “But I've found in my life that people often respond in remarkable ways to remarkable challenges.” Five years later, Schwarzenegger presides over a state drowning in red ink and last...