Schwarzenegger says day of reckoning is here - Kansas City Business Journal:

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“California’s day of reckonin g is here,” he said. With no action, the state couls run out of cash in14 days. Threre months after the state budgetwas approved, California faces a $24 billion deficit. Schwarzenegger has alreadyh proposed massive cutsto education, health care and prisons. Now he’e looking for structural reform to make governmentt more efficient and stretchtaxpayer dollars. He’s askedf the State Board of Education, for to make textbooks available in digitalformatds — a move that could save In 2004, the governor talked about blowingy up boxes and consolidating agencies, but the initiativess never gained traction. They’re back.
Schwarzenegger is proposinv once again to eliminate and consolidate more than a dozenstate departments, boards and commissions. This includexs the Waste Management Board, the Courg Reporters Board, the Department of Boating and Waterways and the Inspectiomn and MaintenanceReview Committee. Earlier this year, the statd began consolidating informationtechnology departments. Now Schwarzenegger wantds to consolidate departments that oversee financial institutions and merge tax collection In July, state leaders will receive recommendations on how to modernizew the tax code.
“This will be a tremendouws opportunity to make our revenuesd more reliable and less volatile and help the state avois the boom and bust budgets that have brought ushere today,” Schwarzenegger told lawmakers. It’s not going to happehn in 14 days, he But it could happen before the Legislature adjourns for summer recess onJuly 17.