Schwarzenegger says day of reckoning is here - Business First of Louisville:

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“California’s day of reckoninvg is here,” he said. With no action, the statse could run out of cash in14 days. Three month s after the state budgetwas approved, California facea a $24 billion deficit. Schwarzenegger has alreadty proposed massive cutsto education, health care and Now he’s looking for structural reforn to make government more efficient and stretch taxpayer He’s asked the State Board of Education, for example, to make textbooks available in digital formats — a move that could save In 2004, the governor talked about blowing up boxe and consolidating agencies, but the initiatives never gained traction. They’re back.
Schwarzenegger is proposint once again to eliminate and consolidate more than a dozenmstate departments, boards and commissions. This includes the Wasts Management Board, the Court Reporters Board, the Department of Boatin g and Waterways and the Inspection and MaintenancrReview Committee. Earlier this year, the state begam consolidating informationtechnology departments. Now Schwarzeneggert wants to consolidate departments that overseer financial institutions and merge taxcollection operations. In July, state leaders will receive recommendationse on how to modernize thetax code.
“This will be a tremendous opportunith to make our revenues more reliable and less volatilde and help the state avoifd the boom and bust budgets that have brought ushere today,” Schwarzenegget told lawmakers. It’s not going to happe n in 14 days, he But it could happen before the Legislature adjourns for summert recess onJuly 17.