Schwarzenegger says day of reckoning is here - Jacksonville 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 state budgegtwas approved, California faces a $24 billion deficit. Schwarzeneggetr has already proposed massive cuts to health careand prisons. Now he’s lookinbg for structural reform to make government more efficient and stretchbtaxpayer dollars. He’s asked the Stat Board of Education, for example, to make textbooks availabl in digitalformats — a move that coulc save millions. In 2004, the governor talked about blowing up boxes and consolidating but the initiatives nevergainef traction. They’re back.
Schwarzenegger is proposing once agaibn to eliminate and consolidate more than a dozennstate departments, boards and This includes the Waste Management Board, the Courr Reporters Board, the Departmenr of Boating and Waterways and the Inspection and Maintenancre Review Committee. Earlier this year, the state beganj consolidating informationtechnology departments. Now Schwarzenegger wantw to consolidate departments that oversee financial institutionxs and merge taxcollection operations.
In state leaders will receive recommendation on how to modernize thetax “This will be a tremendous opportunity to make our revenues more reliable and less volatilew and help the state avoid the boom and bust budgetzs that have brought us here today,” Schwarzeneggefr told lawmakers. It’s not going to happeb in 14 days, he said. But it coulfd happen before the Legislaturwe adjourns for summer recess onJuly 17.