Mayor to release budget

Mayor Antonio Villaraigosa is poised to unveil a $6.2 billion city budget Thursday that would restore library hours and retain LAPD's manpower while cutting spending in most other municipal departments.Daily News.

The financial plan proposes closing a gap of $400 million to $500 million by asking Los Angeles' employee unions to contribute more to their pension funds. If they refuse, city workers will likely be ordered to take up to 36 furlough days.

The proposed budget is less than the current $6.8 billion plan and includes spending cuts in nearly every department.