The City of New York, like so many other cities and small towns throughout the nation are in a severe cash shortage. The solution always comes down to cutting jobs or raising taxes, sometimes it is both.
Mayor Bloomberg and the city council tonight agreed on the new budget which goes into effect on July 1st. The budget calls fro the elimination of at least 2,000 employees.
(the) $63 billion budget that would slash at least 2,000 jobs but increase no taxes.
The deal would mean painful cuts in a variety of city services, including the elimination of some senior centers and day care programs, and less money for education and adult literacy programs. But over all, spending would increase by $3.6 billion, or about 6 percent, compared with the budget approved a year ago, because of rising pension and health care costs.
The city would achieve the cuts to the work force largely through attrition, though there would be about 1,000 layoffs, officials said. The Council is expected to meet next week to formally approve the budget, which would go into effect July 1. {…}
{…} Under the budget deal, the city’s police force, originally expected to lose nearly 900 officers, would be spared any cuts. And the beleaguered Health and Hospitals Corporation, which is facing a $1 billion deficit, would receive $350 million to ease its debt and avoid closing treatment centers and specialty outpatient care at many hospitals. (Source: New York times)
This is just an example of what is happening all across the nation as each city and town face the consequences of not having enough cash. Expect more of these kinds of reports in the months ahead.


