De Blasio: NYC Budget Rosier Than Thought

NEW YORK (AP) -

Mayor Bill de Blasio said that the city’s fiscal fortunes are rosier than imagined when he first presented his 2015 budget in July.

His administration presented its mid-year budget modification on Tuesday and it called for smaller deficits and larger-than-expected savings and tax revenues. The long-term debt is $1.1 billion less than when the current budget took effect July 1, or about $35 billion. That savings will be spread over the next four years.