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Byline: JOSEPH GUINTO
California's Gray Davis got an F for his fiscal performance last year. Florida's Jeb Bush got an A.
So why is Davis handily winning his re-election bid while Bush has struggled?
Well, perhaps voters don't pay as much attention to the bottom line as do investors. If they did, things might be different this year for the nation's governors -- 13 of whom are running for re-election.
Most of those 13 candidates have had a bad fiscal year, according to a report by the Cato Institute.
The report gives governors a letter grade for their state's fiscal performance. Governors who cut taxes and reduce spending the most are graded highest. Those who increase taxes in any way and boost spending are graded poorly.
Of the 42 governors included in this year's report, most were graded poorly. A total of 29 received a grade of C or worse. Four got F's. Just two got A's.