A 'work in progress' city budget signed

A $7.01 billion budget characterized as a work in progress, which calls for layoffs and furloughs of thousands of workers, was signed into law Tuesday by Mayor Antonio Villaraigosa.Daily News.

"Our work on this budget, however, is far from complete," Villaraigosa wrote to the City Council. "The nature of the economic crisis will require us to calibrate and adjust the budget to constantly evolving realities.

"The duration and depth of the recession, the impact of the state budget crisis on the city and the outcome of negotiations with our labor partners remain uncertain."