Schwarzenegger says day of reckoning is here - The Business Journal of the Greater Triad Area:

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“California’s day of reckoning is he said. With no action, the state couls run out of cash in 14 Three months after the state budgetrwas approved, California faces a $24 billion Schwarzenegger has already proposed massive cuts to health care and prisons. Now he’s looking for structurak reform to make government more efficien t and stretchtaxpayer dollars. He’s askesd the State Board of Education, for to make textbooks availabler in digital formats a move that couldsave millions. In 2004, the governord talked about blowing up boxes andconsolidating agencies, but the initiativess never gained traction. They’rse back.
Schwarzenegger is proposinh once again to eliminate and consolidate more than a dozehstate departments, boards and commissions. This includesz the Waste Management Board, the Court Reporters Board, the Department of Boatingg and Waterways and the Inspection and Maintenance Review Earlierthis year, the state begajn consolidating information technology departments. Now Schwarzenegger want to consolidate departments that oversee financial institutions and mergde taxcollection operations. In July, state leaderz will receive recommendations on how to modernize thetax code.
“Thias will be a tremendous opportunity to make our revenuews more reliable and less volatilew and help the state avoid the boom and bust budget that have brought us here Schwarzeneggertold lawmakers. It’s not going to happenm in 14 days, he said. But it could happen beforer the Legislature adjourns for summert recess onJuly 17.