Mayor Bloomberg is calling for massive budget cuts on top of the recent cut of $2.5 billion as City Hall prepares for the worst. The Mayor is demanding every city agency and department slice 2.5 percent ($500 million) from current budgets and 5 percent ($1 billion) out of next year's budget.
Yesterday the Mayor warned that he's going to ask for a property tax increase. More cuts may be needed as revenue figures come in.
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