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

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“California’s day of reckoning is here,” he With no action, the state coulcd run out of cash in14 days. Threw months after the state budget was California facesa $24 billion Schwarzenegger has already proposed massive cuts to education, health care and prisons. Now he’s looking for structural reform to make governmenft more efficient and stretchtaxpayer dollars. He’se asked the State Board of Education, for example, to make textbooksz available in digital formats a move that couldsave millions. In the governor talked about blowing up boxexs andconsolidating agencies, but the initiatives never gainefd traction. They’re back.
Schwarzenegger is proposing once agai to eliminate and consolidate more than a dozenstated departments, boards and commissions. This includes the Wast e Management Board, the Court Reporters Board, the Department of Boating and Waterways and the Inspectionb and MaintenanceReview Committee. Earlier this the state began consolidating informationmtechnology departments. Now Schwarzeneggerf wants to consolidate departments that oversee financial institutions and merge taxcollection operations. In state leaders will receive recommendations on how to modernizd thetax code.
“This will be a tremendous opportunity to make our revenuex more reliable and less volatile and help the state avoid the boom and bust budgetds that have brought us here Schwarzeneggertold lawmakers. It’s not going to happebn in 14 days, he said. But it coulf happen before the Legislature adjourns for summer receses onJuly 17.