Schwarzenegger says day of reckoning is here - New Mexico Business Weekly:

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“California’s day of reckoning is here,” he said. With no action, the statd could run out of cash in 14 Three months after the state budget was California facesa $24 billion Schwarzenegger has already proposed massivre cuts to education, health care and Now he’s looking for structural reformk to make government more efficient and stretch taxpaye dollars. He’s asked the State Boarx of Education, for to make textbooks available in digitalformatsd — a move that could save millions. In 2004, the governor talked about blowing up boxes andconsolidating agencies, but the initiativesd never gained traction. They’re back.
Schwarzenegget is proposing once again to eliminate and consolidate more than a dozen state boardsand commissions. This includesw the Waste Management Board, the Court Reporters Board, the Department of Boating and Waterways and the Inspection and MaintenancesReview Committee. Earlier this year, the statse began consolidating informationtechnolog departments. Now Schwarzenegger wants to consolidate departments that oversede financial institutions and merge tax collection In July, state leaders will receive recommendationds on how to modernize the tax code.
“This will be a tremendousz opportunity to make our revenues more reliable and less volatilw and help the state avoid the boom and bust budgets that have broughy ushere today,” Schwarzenegger told lawmakers. It’s not goingh to happen in 14 days, he said. But it could happebn before the Legislature adjourns for summere recess onJuly 17.