New York City’s financial woes are worse than Mayor Bloomberg predicted – with future budget gaps topping $4 billion unless spending slows, Comptroller William Thompson said yesterday.
“Deficits facing the city will be even larger than the mayor anticipates,” a report released by Thompson’s office says.
Bloomberg has predicted a deficit of $2.6 billion in fiscal year 2004, $3 billion in 2005 and $3.5 billion in 2006.
But the comptroller’s study boosts those numbers dramatically – to $4.1 billion in ’04, $4.3 billion in ’05 and $4.5 billion in ’06.