Facing a budget deficit, the Chicago Transit Authority this week announced it would cut 80 administrative jobs, defer non-critical spending on bus maintenance, and undertake other cost-cutting measures to save $40 million.

The savings will allow the CTA to avoid a fare increase or service cuts to balance its budget, officials said at a news conference on Monday. However, those two options remain on the table if needed for the 2009 budget. The CTA has projected its deficit for 2009 at about $66 million.

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