Mayor Nutter: City's Finances Getting Worse
Mayor Michael Nutter held a town hall meeting in the Mayfair neighborhood on Monday night, where he discussed the city's worsening financial situation.
Mayor Nutter says in the weeks since he announced major cuts across the city, the financial picture is getting even worse. He says the real estate transfer tax is falling short of even lowered estimates. Pension funds lost almost 12-percent in October. He warns the five year, forecasted one-billion-dollar hole could be even deeper:
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