CHICAGO - A Chicago-based fiscal watchdog group this week endorsed the $6 billion budget proposed by Mayor Richard Daley primarily due to the elimination of 2,628 positions to help erase a $469 million deficit, but the organization also raised concerns over the city's long-term fiscal health.

"Chicago has no responsible choice other than cutting personnel spending to balance this budget," Laurence Msall, president of the Civic Federation of Chicago, said in a statement. "An economic downturn is precisely the wrong time to raise broad-based taxes such as property or sales taxes and further burden struggling businesses and residents."

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