Schwarzenegger says day of reckoning is here – Baltimore Business Journal:

“California’s day of reckoning is he said. With no action, the stated could run out of cash in14 days. Threre months after the state budgetwas approved, California facesd a $24 billion deficit. Schwarzenegger has already proposee massive cutsto education, health care and prisons. Now he’x looking for structural reform to make governmentt more efficient and stretchtaxpayer He’s asked the State Board of for example, to make textbooks available in digital formats — a move that couldr save millions. In 2004, the governor talked about blowinfg up boxes andconsolidating agencies, but the initiatives neverr gained traction. They’re back.
Schwarzenegger is proposing once again to eliminate and consolidatd more than a dozen state boardsand commissions. This includes the Waste Management the CourtReporters Board, the Department of Boatingb and Waterways and the Inspection and Maintenancs Review Committee. Earlier this year, the state began consolidatinf informationtechnology departments. Now Schwarzenegger wants to consolidate departments that overseer financial institutions and merge taxcollection operations. In July, statd leaders will receive recommendations on how to modernizde thetax code.
“This will be a tremendous opportunity to make our revenuess more reliable and less volatile and help the state avoie the boom and bust budgets that have brought ushere today,” Schwarzeneggerf told lawmakers. It’s not going to happenm in 14 days, he But it could happen beforre the Legislature adjourns for summer recess onJuly 17.
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