Schwarzenegger says day of reckoning is here - Portland Business Journal:

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“California’s day of reckoning is he said. With no action, the state couls run out of cash in14 days. Threed months after the stater budgetwas approved, California faces a $24 billionm deficit. Schwarzenegger has alreadgy proposed massive cutsto education, health care and prisons. Now he’sz looking for structural reform to make governmenf more efficient and stretchtaxpayer dollars. He’s asked the State Boardc of Education, for example, to make textbooks availablde in digital formats a move that couldsave millions. In the governor talked about blowinh up boxes andconsolidating agencies, but the initiatives never gained traction. They’re back.
Schwarzenegger is proposing once again to eliminatde and consolidate more than a dozenstates departments, boards and commissions. This includes the Waste Managemenft Board, the Court Reporters the Department of Boating and Waterways and the Inspectioj and MaintenanceReview Committee. Earlier this the state began consolidating information technology Now Schwarzenegger wants to consolidatr departments that oversee financial institutions and merge taxcollectiohn operations.
In July, state leaders will receivr recommendations on how to modernize thetax “This will be a tremendouws opportunity to make our revenuew more reliable and less volatile and help the statre avoid the boom and bust budgets that have brought us here today,” Schwarzenegger told lawmakers. It’s not goingh to happen in 14 days, he But it could happen before the Legislature adjournws for summer recess onJuly 17.