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City in Big Budget Hole, Major Job Cuts Projected

City Hall. Wednesday, May 6, 2020. Credit: Ed Reed/Mayoral Photography Office.

May 6, 2020 By Christian Murray

Mayor Bill de Blasio said that he may be forced to cut frontline workers and other municipal employees if the federal government does not provide funding.

He said that New York City is in a big financial hole and may lack the funds to pay people such as health care workers, first responders and educators. The city is projected to lose $7.4 billion in tax revenue through June 30, 2021, according to the mayor’s executive budget released last month.

“How are we gong to support these people who we need if we don’t have any money,” the Mayor told CNN this morning. “I’ve lost $7.4 billion already and my economy can’t come back until I get that stimulus and get back to normal and provide those basic services,” he told CNN.

His cry for federal help comes just a day after Governor Andrew Cuomo also called on Washington to provide funding for hard hit regions. Cuomo, upset by Republican reticence to provide funding for state and local governments, pointed out that New York State had always provided the federal government with a lot more revenue than what was spent here.

De Blasio’s comments also follow the dark outlook presented by City Comptroller Scott Stringer Tuesday.

Stringer said that the city faces a budget gap totaling $8.7 billion over the remainder of this fiscal year and the next—which ends June 30, 2021.

Stringer also noted that one of in five working New Yorkers will be out of a job by the end of June—and that the unemployment rate will reach 22 percent by the end of the quarter, the highest in the city’s postwar history. He said that the rate will be at about 12 percent at the end of the year.

“There’s going to be a lot of pain and heartache,” Stringer said yesterday.

Stringer said that New York City will lose 900,000 jobs by June 30, 2020 and a number of industries will be hit hard.

He said the hotel accommodation and food services industry will lose 184,300 jobs, followed by 178,000 in retail industry.

He said that the industries that require public interaction are being hardest hit.

The workers in these sectors are already among the most vulnerable and economically insecure,” Stringer said.

Stringer questioned de Blasio’s handling of the $8.7 billion budget hole. He said the mayor was drawing on reserves and making short term, superficial cuts.

He said that the cuts need to be deeper, suggesting each city agency needs to cut back its budget by 4 percent.

“It’s time to get serious,” Stringer said, noting that his office is cutting its budget back by 4 percent.

“We need to do this now to protect our social safety net,” he said, point to the need for sustainable cuts. “We’ve got to do this now to protect programs that serve the most vulnerable New Yorkers.”

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24 Comments

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Nit Wit

Sounds like a brilliant idea. Void all legal contracts with hard working tax paying city workers who pay into their pensions while we give free college, healthcare, drivers licenses, and anything else to people who illegally entered this country.

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Someone should really build a wall or something

Trump is soft on border security, and you want to blame de Blasio? He’s not the president…

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Reggie

End plans for stupid BQX and LGA AirTrain projects. End plans to build new jails. End tax breaks and credits for developers. End NYC Thrive Program. Legalize and tax marijuana.

I’d do a better job of running this city than Supreme De Blasio.

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#wheresjimmy?

where is the billion dollars from Chirlane McCray DeBlasio’s Thrive project? Find that money and use it to fund the police,etc. And cut DeBlasio’s salary. He’s useless anyway.

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Bernadette Barrett

To how About the Priorities,
He should eliminate the job he just gave to his wife.

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This comment got totally better the second time

Bernadette you poor thing I think you’re a little confused

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Bernadette Barrett

How about the mayor eliminate the job he just proposed his wife to head up. Instead of essential workers.

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how about priorities

Why would the city cut the jobs of cops and fireman first?…eliminate all these useless programs that squander taxpayers money and enrich all the politically connected at our expense…this is just an extortion tactic to get Washington to pay for years of financial gross negligence…time to pay the piper progressives…please don’t forget us all when you move out to the nice conservative suburbs with low crime and a high quality of life…time for the bubble to hit the road

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Cg

How bout we get rid of the obnoxious umpa lumpa meter maids running around raping us for parking our cars and living our lives.

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Celeste

My grandma used to tell me that people sold pencils and apples during the great depression, you do what you have to do.

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Queens simple guy

Try:
All elected NYC and NYS persons might take a 15 percent cut for 18 months.
Union retirement agreements might be renegotiated. Start with overtime never being included in the base. This is abused.

Any other ideas?

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Antonella

Cuomo and De Blah Blah are the most nonessential of all workers. Enough talking and pay my rent!

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kevin

Target/Arrest those who break social distancing, and free convicted inmates. Yeah, that makes sense, Mr Bill de Blasio!

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JK

just stop funding the white elephant projects your wife is ruinning. You waste millions last week on that.

Don’t blame the economy bc your incompetence

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American unemployment is at an all time high

Stock market completely wiped out. That’s…de Blasio’s fault? lmao

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chloe

The assumption that food is not a source of contamination needs more investigation especially in tracing the stay at home infection levels.

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ABoondy

I have a feeling this city is going to return to the 80’s crime and poverty in no time. Anyone remember the ghost town area around 14th street and around hells kitchen where many buildings were boarded up?

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Stranger in a strange land

Cooperate with ICE and maybe the feds will give you the time of day.

Oh and while you’re at it Bill, why don’t you lead by example and take a pay cut?

And give back that billion dollars your wife somehow squandered on yoga for the homeless.

Giving money to NYC is basically flushing it down the toilet.

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Jessica

Quote from NYC Police Benevolent Assoc. “The cowards who run this city have given us nothing but vague guidelines and mixed messages…” after, as we predicted, cops are roughing up New Yorker’s on the streets and people are capturing it on video!!

Reply

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