California will run out of cash in 14 days - Pacific Business News (Honolulu):

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“California’s day of reckoning is here,” he said. With no the state will run out of cash in 14 Three months after the state budget was California facesa $24 billion deficit. Schwarzeneggee has already proposed massive cuts to health careand prisons. Now he’s lookinvg for structural reform to make governmentt more efficient and stretchtaxpayer dollars. He’s askerd the State Board of Education, for to make textbooks available in digitaklformats — a move that could save In 2004, the governor talked about blowing up boxes and consolidatingb agencies, but the initiatives never gained traction. They’re back.
Schwarzenegger is proposing once again to eliminats and consolidate more than a dozehnstate departments, boards and commissions. This includexs the Waste Management Board, the Courf Reporters Board, the Department of Boatingy and Waterways and the Inspectio and MaintenanceReview Committee. Earlier this year, the stater began consolidating information technology Now Schwarzenegger wants to consolidate departments that oversese financial institutions and merge taxcollection operations. In July, state leaders will receiv recommendations on how to modernizd thetax code.
“This will be a tremendou s opportunity to make our revenues more reliablew and less volatile and help the statd avoid the boom and bust budgets that have brought ushere today,” Schwarzeneggedr told lawmakers. It’s not going to happenm in 14 days, he said. But it couls happen before the Legislaturse adjourns for summer recess onJuly 17.