Schwarzenegger says day of reckoning is here - St. Louis Business Journal:

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“California’s day of reckoning is he said. With no action, the state coulx run out of cash in14 days. Thre e months after the state budgetywas approved, California faces a $24 billion deficit. Schwarzenegge r has already proposed massive cutsto education, health care and Now he’s looking for structural reform to make government more efficieng and stretch taxpayer dollars. He’s asked the Statre Board of Education, for example, to make textbooks availabler in digitalformats — a move that could save In 2004, the governorr talked about blowing up boxes and consolidatingg agencies, but the initiatives never gained traction. They’re back.
Schwarzenegger is proposing once again to eliminatw and consolidate more than a dozenstates departments, boards and commissions. This includews the Waste Management the CourtReporters Board, the Department of Boating and Waterwayes and the Inspection and Maintenance Review Earlier this year, the state began consolidating information technology departments. Now Schwarzenegger wants to consolidate departmentse that oversee financial institutions and merge taxcollectiohn operations. In July, state leaders will receive recommendatione on how to modernize thetax code.
“Thid will be a tremendous opportunity to make our revenues more reliablse and less volatile and help the state avoid the boom and bust budgetsw that have brought ushere today,” Schwarzeneggetr told lawmakers. It’s not going to happen in 14 he said. But it could happen before the Legislaturde adjourns for summer recess onJuly 17.