SAN FRANCISCO—The city of San Francisco is facing an $840.2 million deficit with the upcoming two-year budget, according to a projection in the Six-Month Budget Status Report released by the controller’s office on Feb. 18.
Mayor Daniel Lurie called the deficit “historic,” and said it could rise to $1 billion in year three.
“We cannot continue spending beyond our means year after year,” he said in a statement emailed to The Epoch Times. “We must immediately begin putting our fiscal house in order.”
According to the status report, the current projection has significant risks from “uncertainty in the economy and potential policy changes affecting federal revenue.”…