This might spoil his third term hopes!
On Wednesday, New York City's mayor, Michael Bloomberg, announced plans to save the city $1.5 billion this year and next.
It includes cutting 3,000 city jobs and rolling back a 'popular' 7 percent property tax cut AND suspending the annual $400 property tax rebate checks that homeowners in the city get.
The mayor said:
“There is no magic answer to our budget challenges. We didn’t ask for our financial system’s meltdown, and we didn’t create it, but we certainly have to deal with it, and we have to deal with it honestly and straightforwardly, in order to protect the people of New York City.”
We hope something will be done to help the 3,000 who are going to be laid off.
[Image via WENN.]