LA City budget crunch
$212 million--that’s the shortfall faced by the City of Los Angeles this year. Last week, Mayor Antonio Villaraigosa ordered the elimination of 1,000 city jobs. But even that drastic measure only saves $50-million this year. Where’s the rest going to come from? And with a $484-million shortfall looming next year, what’s the city’s long term financial prognosis? Larry speaks with Mayor Antonio Villaraigosa about LA’s ongoing budget woes.