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Apparently, celebs are not qualified to voice a political opinion (see websites such as celiberal.com, for example),
You are mistaken. The conservative position is that
being a celebrity itself does not make your political opinion any more valid than anybody elses. It does, however, make you more responsible for the stupidity of what you might say.
With great power, comes great responsibility. Celebrities have a great deal of power to get their opinions heard.
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and foreigners are just out and out bad (French, Arabs, for example).
sigh.... such blanket stereotypes. Conservatives don't think
foreigners are "just out and out bad", we think that cheese eating surrender monkeys and Islamofacists are bad.

We're pretty partial to the Brits, Aussies, Poles, and others who have the cojones to stand tall.
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So can anyone tell me why, on several 'conservative' websites, they are deeelighted to see one Mr. A. Schwarzenegger running for governer of California?
Well, first off, there's a lot of heavy-duty conservatives who are not quite so delighted. Rush Limbaugh for one. On the flip side, from where I sit, Arnold is pretty much a lock for the victory, which means that while he may not be a conservative Republican, Gray Davis is on his way out and another looney Left Democrat won't be taking his place.
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Has he not made very offputting statements about women, and is there not the taint of allegations of sexual misconduct on him? Has he not admitted to using steroids?
First, steroid use itself is not illegal. It has been banned over the course of the last couple decades for competitive athletes, but I don't believe it had been banned in bodybuilding at the time Arnold was competing. (I could be wrong on this though.) Second, and more importantly, steroids are neither mind-altering (in the sense that marijuana, cocaine, opiates, meth, etc) are, nor are they taken solely as recreational drugs. As a result, the MORAL perspective on steroids is far more relaxed. Third, he
has admitted to using them, rather than trotting forth something silly such as "I didn't inhale."
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Is he not a friend of the very unsavoury Kurt Waldheim?
Kurt Waldheim, two time UN Secretary General, that Kurt Waldheim? oohhh, don't forget to mention, Arnold's father was a member of the Nazi Party.

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Why do none of these standards apply to a republican candidate, and why is George Bush apparently considering endorsing his candidacy?
GWB would be considering endorsing his candidacy because a moderate Republican Governor of California is better for the Republican chances to win in California in 2004 than a Left Loon Democrat, at least theoretically. Furthermore,
if Arnold does win subsequent a GWB endorsement, and manages to improve things in California, then he'd owe GWB, and that could be a
very valuable marker for the President.