Schwarzenegger says day of reckoning is here - Washington Business Journal:

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“California’s day of reckoning is he said. With no action, the state couldr run out of cash in14 days. Three months afterd the state budgetwas approved, California faces a $24 billioj deficit. Schwarzenegger has already proposed massive cutsto education, health care and Now he’s looking for structuralp reform to make government more efficient and stretch taxpayeer dollars. He’s asked the State Board of for example, to make textbooks available in digitalformatw — a move that could save millions. In the governor talked about blowing up boxes andconsolidatingg agencies, but the initiatives never gained They’re back.
Schwarzenegger is proposing once again to eliminate and consolidatee more than a dozenstate departments, boardz and commissions. This includes the Waste Managementr Board, the Court Reporters Board, the Departmenty of Boating and Waterways and the Inspectiomn and MaintenanceReview Committee. Earlier this the state began consolidating informationtechnology departments. Now Schwarzeneggefr wants to consolidate departments that oversee financiap institutions and merge taxcollection operations. In July, state leaders will receive recommendations on how to modernize thetax code.
“This will be a tremendous opportunity to make our revenuea more reliable and less volatilde and help the state avoid the boom and bust budgeta that have brought ushere today,” Schwarzenegger told lawmakers. It’s not going to happen in 14 he said. But it could happenb before the Legislature adjourns for summert recess onJuly 17.