Bloomberg Asks Agencies to Tighten Belts to Tune of $500 Million

Mayor Bloomberg isn't kidding when he says, "This is not going to be a feel-good time." He asked city agencies to trim their budgets. WNBC reports the request is to "cut $500 million from their budgets this year and $1 billion next year," as Bloomberg prepares the city for less revenue, due to Wall Street's dwindling fortunes (he's been on this train of thought for a while). Apparently these cuts are equivalent to 2.5% of budgets this year and 5% next year. Last year around this time, Bloomberg wanted agencies to be careful with spending.

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By Jen Chung in News on September 23, 2008 4:18 PM

Comments [rss]

books

keep the projects - cut the employees - thats where the real waste is in the city

blablanyc

It's actually $1.5 Billion.

Outter Burrougher

hmm, valid point coaster, how about we unexempt those bonds from taxes (wow, between this and my last comment, i'm coming off as very bitter about the yankee stadium thing - trying to decide how i feel about that).

miz coaster

sure sure curb... and I am paying for 2,000 cops at an over-hyped yankee game...oh wait, arent we paying for the new venue? I know i know they say we arent, but i think we are in the end.

JacqueMehoff

how bout curbing the critical mass budget?

EricRoberts

What sucks about this is the only agencies who would be willing to be conscientious and pull their belt strings a little tighter are the ones who probably aren't being wasteful in the first place. So some well run org will suffer while a bloated, corrupt org will be business as usual.

*cough* *cough* MTA