Free Republic

NEW YORK (Reuters) – New York City Mayor Michael Bloomberg on Friday unveiled a near $66 billion revised budget plan that does not raise taxes but instead relies on attrition and layoffs to cut about 7,000 city workers. Though the city is spending the majority of its reserves, "even that will not be enough to avoid layoffs of some city employees, including teachers," Bloomberg, a political independent, said at a webcast news conference. The school system, the nation's biggest with over a million pupils, stands to lose about 6,000 teachers. These are the first teacher layoffs in decades. Despite an...