Sponsors Slash Halloween Parade From Budget

This year's annual Halloween Parade will see more tricks than treats, as the NY Post reports that sponsors have been spooked by the recession and are holding back on their usual monetary support.

Parade director Jeanne Fleming told the paper, "Last year, we had 11 floats, and that was when the economy started to tank." Normal years have seen around 20 floats, and this year there are a measly three floats. One sponsor throughout the years, Bubby's owner Ron Silver, explained, "This is the first year that we aren't sponsoring it, and hopefully, it's the last. At this point, restaurants are closing. We're watching our bottom line." They aren't the only ones tightening the pursestrings; the Department of Cultural Affairs also cut their annual grant in half.

The parade, which takes place on the 31st at 7 p.m., still promises a huge turnout, on top of hundreds of puppets, 53 bands, and a plethora of dancers, artists, performers and costumed freaks.