City Budget Hole Deepens: Shortfall Could Be $200 Million

04/06/2009 05:12 am ET | Updated May 25, 2011

If the economy continues to tank, the city budget could fall $200 million short by year's end, the mayor's top aide said today.

A quarter of the way through the budget year, City Hall is short about $33 million, even after $31 million in cost-cutting, Chief of Staff Paul Volpe said.

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