Associated Press: NYC mayor: Use last rainy-day funds in budget plan
NYC mayor: Use last rainy-day funds in budget plan
By Samantha Gross, Associated Press
February 3, 2012
NEW YORK — New York City should scrape dry the last of its rainy-day funds to balance next year’s budget without new cutbacks or taxes, Mayor Michael Bloomberg said Thursday as he unveiled a $68.7 billion budget proposal that anticipates billions of dollars in deficits in years to come.
“We spent years planning ahead, making government more efficient and saving for a rainy day,” the mayor said of the $6 billion the city put aside in the more flush days of his administration. “Thank goodness we had the reserve.”
