New York, NY – New York City budget officials are demanding that agencies prepare to slash their spending by 2 percent this year and 6 percent next year.
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In a memo Tuesday, the city budget director cites what he calls a “chaotic stock market” and uncertain economy.
Mark Page asks agency heads to propose cuts within the next two weeks.
He wants officials to cut $500 million in the fiscal year that began July 1, and $1.5 billion in the next fiscal year.
That’s not enough to eliminate next year’s predicted $4.6 billion gap.
Page also ordered agencies to institute a hiring freeze.
Deputy Mayor for Operations Cas Holloway says the city is “looking at extreme economic uncertainty.”
He says the state and federal governments are likely to cut city funds even more.
Mandatory retirement age should be reinstituted for city workers. It is ridiculous to have people in their late 70’s not only making big salaries but also collecting full Social Security without penalty at the same time.
Bloomberg should be the first to retire.
Let’s just watch how the newly laid off cops join the protestors!
The city has to make up the over $700,000,000 loss caused by it’s contract with the CityTime payroll project. They didn’t stop the fraud when the original cost ran to more than 10 times it’s approximate $60,000,000 estimate now we, the citizens, have to make up for the loss. First they use our money to fund the scam now they use more of our money to refill the coffers. Who approved CityTime in the first place? And why isn’t he in jail?