The mayor and Mr. Johnson like to talk about all the “savings” that are in the budget. “The risks are still there,” Mr. de Blasio said Friday during a news conference with Mr. Johnson in the City Hall rotunda. “This is why we’ve added to reserves and why we’ve deepened our savings programs. The commission estimates that a recession would reduce revenues by as much as $20 billion over three years, a number that dwarfs the city’s reserves. Council members have been pushing for funds to address a serious pay parity issue involving early childhood education staff.

Source: New York Times June 15, 2019 06:56 UTC