May 7th, 2009
02:51 PM ET
12 years ago

Cafferty: Legalizing marijuana answer to government’s $ problems?

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As California faces mounting deficits, Governor Arnold Schwarzenegger says he's open to talking about ways to create revenue. One way is to look at other countries that have legalized marijuana and what effect it's had.

Schwarzenegger's comments come as support grows nationwide for legalizing pot. In California, a recent poll found for the first time a majority of voters back legalization.

One California lawmaker says regulating and taxing marijuana would bring the state as much as $1.3 billion a year in extra revenue. Proponents say it's about more than just money; it's about the failure of the war on drugs and implementing "a more enlightened policy."

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