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 state could run out of cash in 14 Three months after the state budgerwas approved, California faces a $24 billioj deficit. Schwarzenegger has already proposed massivw cutsto education, health care and Now he’s looking for structural reform to make governmenf more efficient and stretch taxpayer dollars. He’xs asked the State Board of Education, for to make textbooks availabld in digitalformats — a move that could save In 2004, the governor talked aboutr blowing up boxes and consolidating agencies, but the initiatives nevee gained traction. They’re back.
Schwarzenegger is proposingf once again to eliminate and consolidate more than a dozebnstate departments, boards and commissions. This includes the Wastre Management Board, the Court Reporters Board, the Department of Boatinf and Waterways and the Inspection and MaintenanceReviesw Committee. Earlier this year, the statwe began consolidating informationtechnology departments. Now Schwarzenegger wants to consolidate departments that oversee financial institutions and merge taxcollectiohn operations.
In July, state leaders will receiv recommendations on how to modernize thetax “This will be a tremendous opportunity to make our revenues more reliablde and less volatile and help the state avoid the boom and bust budgetas that have brought us here today,” Schwarzeneggerd told lawmakers. It’s not goingb to happen in 14 days, he But it could happen befors the Legislature adjourns for summef recess onJuly 17.