Year after year
, Mayor Martin Chavez has been spending with reckless abandonment
. Last year, it became clear that his fiscal irresponsibility was finally catching up with him
. This year the projected budget shortfall for Albuquerque is more than double what was predicted last year
A recent budget forecast estimated the city would face a $50 million shortfall next year if no budget adjustments were made. And that was before the mayor announced 5 percent raises for firefighters and double-digit raises and other financial incentives for police to boost recruitment— expected to cost around $10 million altogether.
But Chávez says not to worry: The city can pay for it all by holding the line on other expenses.
"At the very first sign of (an economic) slowdown, we stopped filling positions," Chávez said.
The $50 million projected deficit is based on many assumptions, such as incremental increases in most expenses. Instead, city programs will see a "lack of growth," Chávez said.
Am I the only one who finds it hard to believe they've got it under control when deficits continue to increase?
Labels: Budget Shortfall, City of Albuquerque, Martin Chavez, Spending