Emanuel: Chicago Budget Deficit Cut Nearly In Half

Rahm: Chicago Budget Deficit Cut Nearly In Half
FILE - In this May 18, 2012 file photo, Chicago Mayor Rahm Emanuel speaks during an interview with the Associated Press at his City Hall office. Emanuel says he supports a plan to allow police to issue tickets to people caught with a small amount of marijuana. A statement from his office Friday, June 15, 2012, says the mayor will join Alderman Danny Solis to introduce an amended ordinance that would cover people caught with 15 grams of marijuana or less. (AP Photo/M. Spencer Green, File)
FILE - In this May 18, 2012 file photo, Chicago Mayor Rahm Emanuel speaks during an interview with the Associated Press at his City Hall office. Emanuel says he supports a plan to allow police to issue tickets to people caught with a small amount of marijuana. A statement from his office Friday, June 15, 2012, says the mayor will join Alderman Danny Solis to introduce an amended ordinance that would cover people caught with 15 grams of marijuana or less. (AP Photo/M. Spencer Green, File)

Chicago's budget crisis is easing just a bit, according to new numbers released by the mayor's office.

Mayor Rahm Emanuel estimates the city will face a $369 million budget shortfall in 2013, nearly 50 percent less than the $741 million gap that was originally projected. It's considered the city's lowest budget since 2009.

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