The Mayor's office and City Council reached a $63 billion deal for the upcoming fiscal year, which begins on July 1. The City's press release is pretty pointed (italics are ours): "The plan balances the budget with no tax increases despite the assumption of a massive and disproportionate reduction in the amount of tax dollars the State returns to the City and the lingering impacts of the national recession. The City Council is expected to vote on the FY 2011 budget plan early next week, marking the ninth consecutive year Mayor Bloomberg and the City Council have enacted an on-time, balanced budget."

The NY Times says, "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." Here's what the deal means: 2,000 jobs would be lost in attrition and layoffs; 20 firehouses will not be shut down; public pools will stay open; 200 case workers for the Administration for Children's Services; libraries will stay open 5 days a week (down from 6).

Mayor Bloomberg said, "Despite very trying circumstances, we're balancing the City's budget without increasing taxes. We've faced up to our responsibilities and to financial realities, which means making some difficult and painful budget cuts that New Yorkers will feel," and City Council Speaker Christine Quinn said, "Without a State budget agreement, the end of federal stimulus funds, and a persistent economic downturn, this year the City had to make exceedingly difficult decisions. Despite these obstacles, the Council and the Bloomberg Administration forged a responsible, thoughtful agreement that will preserve the most critical City services without raising taxes."