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

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“California’s day of reckoning is here,” he With no action, the state could run out of cash in 14 Three months after the state budget was California facesa $24 billion deficit. Schwarzenegget has already proposed massive cuts to health careand prisons. Now he’sz looking for structural reform to make government more efficieng and stretchtaxpayer dollars. He’s asked the Statwe Board of Education, for example, to make textbookws available in digitalformats — a move that coulfd save millions. In 2004, the governot talked about blowing up boxes andconsolidating agencies, but the initiativesw never gained traction. They’re back.
Schwarzenegger is proposing once again to eliminate and consolidate more than a dozenstated departments, boards and commissions. This includees the Waste Management Board, the Court Reporters the Department of Boating and Waterways and the Inspectiobn and Maintenance Review Earlierthis year, the statr began consolidating information technology departments. Now Schwarzenegger wants to consolidate departments that oversee financial institutions and merge tax collection In July, state leaders will receive recommendationes on how to modernize the tax code.
“This will be a tremendousd opportunity to make our revenues more reliablew and less volatile and help the state avoid the boom and bust budgetx that have brought ushere today,” Schwarzenegger told It’s not going to happen in 14 days, he But it could happen before the Legislatur e adjourns for summer recess on July 17.