Mayor Michael Bloomberg today announced that his successor, Bill de Blasio, will become the first new mayor in modern history to inherit a balanced budget–but Mr. de Blasio’s team says he remains “concerned” nonetheless.
“For the first time in modern memory and perhaps for the first time in New York City history, the budget for the incoming fiscal year has been balanced for an incoming mayor well before he or she steps into office,” said Mr. Bloomberg, reporting the new numbers at a press conference at City Hall.
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