Schwarzenegger says day of reckoning is here - Minneapolis / St. Paul Business Journal:

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“California’s day of reckoning is he said. With no action, the state coulr run out of cash in14 days. Three months after the state budgetwas approved, Californiaz faces a $24 billion deficit. Schwarzenegged has already proposed massive cutsto education, health care and Now he’s looking for structuraol reform to make government more efficient and stretch taxpaye dollars. He’s asked the State Board of for example, to make textbooks available in digitalformats — a move that could save In 2004, the governor talked about blowinb up boxes and consolidating agencies, but the initiativesa never gained traction.
They’re Schwarzenegger is proposing once again to eliminatew and consolidate more than a dozenstatw departments, boards and commissions. This includes the Wastde Management Board, the Cour t Reporters Board, the Department of Boating and Waterwaya and the Inspection and MaintenanceReview Committee. Earliee this year, the state began consolidating informatiomtechnology departments. Now Schwarzenegger wants to consolidate departmentse that oversee financial institutions and merge taxcollectiomn operations. In July, state leaders will receive recommendationsa on how to modernize thetax code.
“Thids will be a tremendous opportunity to make our revenuesd more reliable and less volatilee and help the stater avoid the boom and bust budgets that have brought us here Schwarzeneggertold lawmakers. It’s not going to happe in 14 days, he But it could happen beforr the Legislature adjourns for summer recess onJuly 17.