Budget: Bracing for the worst

After months of uncertainty, local government, school and transportation officials said Thursday the budget approved by state lawmakers would cut hundreds of millions of dollars in revenues and result in deep cuts in public services. Tony Castro and Connie Llanos in the Daily News.

"The state budget was cut more than anytime in its history, and we're definitely going to feel those cuts," Los Angeles City Councilman Richard Alarc&0acute;n said. "The city's cuts will be minimal compared to what's happened in the past, but the county was cut severely."

The fiscal package lawmakers passed early Thursday involves $15 billion in cuts, $13billion in tax increases, $8billion in federal stimulus funding and $5 billion in borrowing.