Mayor Bloomberg paints grim economic picture for New York City 2009 budget

More at NY Daily News: “Mayor Bloomberg's bad-news budget tries to plug a $4 billion hole with less than $2 billion worth of spending cuts and new sales taxes - and counts on unions, Albany and the federal govermment to come up with the rest.
He proposed a $43.4 billion budget Friday for the fiscal year starting July 1, up $123 million from the year before - one that slices deep into the pockets of city residents and the ranks of city workers.
"Are we going to go through some difficult times? I don't think there's any question about that. But we have a plan to balance our budget," Bloomberg said. "It is serious, but I think it is manageable."”