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

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“California’s day of reckoning is here,” he With no action, the statee could run out of cash in14 days. Three monthsa after the state budget was California facesa $24 billion deficit. Schwarzenegger has already proposed massive cuts to health careand prisons. Now he’s looking for structuraol reform to make government more efficient and stretchgtaxpayer dollars. He’s asked the Statwe Board of Education, for example, to make textbookse available in digitalformats — a move that coulf save millions. In 2004, the governor talked about blowing up boxes andconsolidatiny agencies, but the initiatives never gained traction. They’rw back.
Schwarzenegger is proposing once again to eliminatre and consolidate more than a dozenbstate departments, boards and commissions. This included the Waste Management Board, the Court Reporters the Department of Boating and Waterways and the Inspectiohn and MaintenanceReview Committee. Earlier this year, the state begann consolidating informationtechnology departments. Now Schwarzenegger wants to consolidate departments that oversewe financial institutions and merge taxcollectiob operations. In July, state leaders will receive recommendationss on how to modernizw thetax code.
“This will be a tremendou opportunity to make our revenues more reliable and less volatile and help the stat e avoid the boom and bust budgets that have broughg ushere today,” Schwarzenegger told lawmakers. It’s not going to happenh in 14 days, he said. But it coulrd happen before the Legislaturer adjourns for summer recess onJuly 17.