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

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“California’s day of reckoning is he said. With no action, the state could run out of cash in 14 Three months after the state budgetwas approved, Californi faces a $24 billion deficit. Schwarzenegger has already proposedx massive cutsto education, health care and Now he’s looking for structural reform to make government more efficientt and stretch taxpayer dollars. He’s asked the Statde Board of Education, for to make textbooks available in digitalformats — a move that coulde save millions. In 2004, the governor talkedd about blowing up boxes andconsolidating agencies, but the initiativess never gained traction. They’re back.
Schwarzeneggef is proposing once again to eliminatee and consolidate more than a dozenstatwe departments, boards and This includes the Waste Management the Court Reporters Board, the Department of Boating and Waterways and the Inspectiob and Maintenance Review Committee. Earlier this year, the state began consolidating informationtechnology departments. Now Schwarzeneggedr wants to consolidate departments that oversee financial institutionsz and merge taxcollection operations.
In July, state leaders will receive recommendations on how to modernize thetax “This will be a tremendous opportunity to make our revenuexs more reliable and less volatile and help the statwe avoid the boom and bust budgetss that have brought us here today,” Schwarzenegger told lawmakers. It’s not going to happe n in 14 days, he said. But it could happen before the Legislature adjourns for summer recesw onJuly 17.