New Comptroller warns NYC is facing a $12 billion combined budget deficit

Watch New Comptroller warns NYC is facing a $12 billion combined budget deficit - New York Post on Dailymotion

Transcript

00:00We want to call your attention today to a looming budget gap that we believe has big

00:10implications for our budget, and we want to talk about how we got into this mess.

00:17So we're going to start out with the top line numbers, which are pretty striking.

00:21We are facing, according to my office's projections, a mid-year budget gap in New York City of

00:28$2.2 billion, and that is for the year that we're in the middle of.

00:32That ends in June.

00:33We're going to talk about why that's pretty unusual, and we're facing an even bigger gap

00:39for the year that begins in July of $10.4 billion.