NYC needs to rein in runaway spending to a tune of $6B even with Albany bailout: city comptroller

Source: New York Post

The Big Apple needs to reign in its out-of-control spending by more than $6 billion — including massive cuts to a controversial housing voucher program and school funding, the city’s fiscal watchdog said. Comptroller Mark Levine said Tuesday that even if Albany swoops in to bail the city out of its budget deficit this year, it still needs to start making cuts to ensure it can pay its bills in the future. “It’s going to take us giving a really hard look at some of these fast-growing expense lines,” Levine said ahead of his testimony at the City Council’s first budget hearings Wednesday.