Mayor Bloomberg Orders Nearly Two-Billion-Dollars In Budget Cuts
New York, NY -- New York City Mayor Michael Bloomberg is not ruling out layoffs in his plan to cut the city's budget.
A day after the Bloomberg Administration called for one-point-seven-billion dollars in spending cuts over the next two years, Bloomberg says the reduction plan most likely will hit employees.
Bloomberg says he doesn't want to raise taxes so the only option is to cut expenses. The Mayor says the City just doesn't have the money, but must provide the most important services. He adds a balance between the two will be found. Bloomberg's plan will cut 500-million dollars this fiscal year and more than one billion next year. However, next year's deficit is still about five-billion dollars.
Bloomberg says he doesn't want to raise taxes. Bloomberg says expenses have to be cut. Bloomberg says he hopes it doesn't come to layoffs.
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