While Congress is debating whether or not to shell out the big bucks to save the economy, Mayor Bloomberg is already using his budget scissors to save New York. Yesterday Hizzoner demanded $1.5 billion in budget cuts across city agencies over the next two years to handle Wall Street's downturn. That's a 2.5 percent ($500 million) decrease for the 2009 fiscal budget and an additional 5 percent ($1 billion) for 2010. "The full extent of actions necessary for the city to maintain its legally mandated balanced budgets may not be clear for some time," said budget director Mark Page, indicating that more cuts may lurk around the corner. "We're going to have some tough times, I don't think anybody doubts that," said Bloomberg, adding that he hopes the cuts won't interrupt any services. Notable immediate subtractions include $94.7 million from the NYPD budget, $185.4 million from education spending, and $31.6 million from the Department of Sanitation. All affected agencies will see much bigger cuts next year. In addition to the boost this will give the city's balance sheets, it also will serve the purpose of reassuring the taxpayers — who are facing an up to 7 percent property tax increase — that the city will do its part to cinch belts as well.
Most Viewed Stories
Hillary Clinton Readies Oppo-Research to Go to War Against Joe Biden
Movies Need to Stop Explaining Everything (Looking at You, The Walk)
Marc Maron Will Finally Ask Lorne Michaels WTF Happened With His SNL Audition
Meryl Streep’s T-Shirt Promoting Suffragette Is Unfortunate
The One Podcast to Start With, Across 24 Topics
Julianna Margulies Insists There’s No Feud Between Her and Archie Panjabi; Archie Panjabi May Disagree
Times Square: The City’s Id, Now and Always
‘Weed Dick’ Is the New Way for Men to Sexually Disappoint You
Marco Rubio Not Sure What Century Bush Administration Took Place
Watch Peggy Hill Sing Nicki Minaj’s ‘Hey Mama’
Latest News from Daily Intelligencer11-Year-Old Boy Shoots 8-Year-Old Girl Dead Over Puppy
He'd been bullying her for a while, her mother reports.How the Republicans Are Rehabbing Hillary Clinton’s Image
The GOP handed her a gift when they slipped up about the Benghazi investigation. She's playing it brilliantly.Hillary Clinton Readies Oppo-Research to Go to War Against Joe Biden
“This could be messier than Obama-Hillary '08.”U.S. Military Official Says Hospital Airstrike Was a Mistake
General John Campbell also told Congress on Tuesday that the plan to withdraw all troops from Afghanistan by 2016 may be changed.Officials Blow a Big Call on Monday Night Football, As America Learns the ‘Illegal Bat’ Rule
The Seahawks caught a major break.Cops Investigate Tractor-Trailer That Smells Suspiciously Like Pot in Queens, Find 3,000 Pounds of Marijuana
In other words, $3.5 million worth of marijuana.Man Found Dead After Being Locked in Bronx Hospital Bathroom for Days
The deceased worked at Montefiore Medical Center.Marco Rubio Not Sure What Century Bush Administration Took Place
He was only off by one century.Can Steve Huffman Save Reddit From Itself?
He co-founded Reddit. Sold Reddit. Watched Reddit grow. Watched Reddit flounder. Watched Reddit mutiny. Now he’s back, to try to pull Reddit back from the brink.10 Things to Know About the Yankees’ Wild Card Playoff Game
They'll face Dallas Keuchel and the Houston Astros tonight.
But he did remind the world that Trump Ice is real.Could Congress Actually Pass New Gun-Control Laws?
Harry Reid is proposing a new push for background checks, but the issue has only grown more divisive.Ann Romney Crushes Lingering ‘Mitt 2016’ Hopes
“We made the right decision,” to get out of the race, she says.Hillary Clinton Turns Kevin McCarthy’s Benghazi Gaffe Into a TV Ad
To bolster her claim that Republicans are conspiring against her.No, Depressed American Towns Do Not Look Like Zimbabwe
Are trade deals turning the United States into Zimbabwe?California Becomes Fifth State to Adopt ‘Right-to-Die’ Law
Governor Jerry Brown signed the controversial legislation Monday.Commercial Flight Lands Safely After Death of Pilot
The American Airlines plane, which was on its way from Phoenix to Boston, made an emergency landing in Syracuse.House Will Choose Boehner’s Replacement One Day Before He Says ‘Bye!’
The other leadership positions will be filled at a to-be-determined date.Pizza Rat Just Got Slightly Sexier
Happy Halloween.South Carolina Floods Kill at Least 9
"This flood disaster has been like nothing South Carolina has ever seen."