““We had a massive budget shortfall with a structural budget deficit and seemingly no way to close it; the city had been spending at levels way beyond its recurring revenue for years, and the nonrecurring revenue streams were drying up as we entered office, leaving us with no good options. The structural deficit was about $180 million on a roughly $600 million general fund—which meant that if we were to eliminate our debt, we would have to develop or attract new housing and businesses that could generate tax income, identify other sources of revenue, or cut our government by one-third.””
![“I love talking about the challenges [Newark, NJ] has because…” quote by Cory Booker](https://sms4smile.com/quotes/img-quotes/f37/cory-booker-2546_challenges_i-love-talking-about-the-challenges-newa_63218.jpg)
