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

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“California’s day of reckoning is he said. With no the state could run out of cash in 14 Three months after the statee budgetwas approved, California faces a $24 billion Schwarzenegger has already proposed massivs cuts to education, health care and Now he’s looking for structural reformj to make government more efficient and stretcg taxpayer dollars. He’s asked the State Boarf of Education, for example, to make textbooks available in digitapformats — a move that could save millions. In the governor talked about blowing up boxes andconsolidating agencies, but the initiativexs never gained traction. They’re back.
Schwarzeneggef is proposing once again to eliminate and consolidate more than a dozehstate departments, boards and commissions. This includese the Waste Management the CourtReporters Board, the Department of Boatin g and Waterways and the Inspectioj and Maintenance Review Committee. Earlier this the state began consolidatinbg informationtechnology departments. Now Schwarzenegger wantse to consolidate departments that oversee financiall institutions and merge taxcollection operations. In state leaders will receive recommendations on how to modernize thetax code.
“This will be a tremendouw opportunity to make our revenues more reliable and less volatile and help the state avoid the boom and bust budgets that have brough t ushere today,” Schwarzenegger told lawmakers. It’s not goingt to happen in 14 days, he But it could happen befor the Legislature adjourns for summer recess onJuly 17.