City Councilmember Paul Krekorian, Chair of the Budget and Finance Committee, faces the enormous challenge of balancing the City of Los Angeles' budget. Krekorian recently sat down with The Planning Report to discuss what steps he has taken to reduce the budget deficit, the impacts that his decisions will have on the City's core services and civil servants, and the tolls and political difficulties that come with taking on a budget crisis in a time where raising revenues remains exceedingly difficult. Discretionary spending in Los Angeles is a small portion of the budget, and the City Council's options for addressing its deficits are limited.
Paul Krekorian's experience with the City of Los Angeles is not unique in the United States. Municipal governments across the country are grappling deficits as revenues stagger and the costs of entitlement programs soar. His explanations demonstrate that local leaders are finding creative ways of holding a municipal fiscal condition together, and solutions are rarely quick.
Thanks to Kevin Madden