San Diego, the state’s second-largest city, will have to cut $43 million from its $1.2 billion general fund budget to deal with a painful slowdown in economic growth, Mayor Jerry Sanders said in a speech last week.

“These are uncharted waters, and I don’t pretend to know where the economy is heading,” Sanders said in a speech to the San Diego County Taxpayers Association. “We almost certainly will need to curtail programs and close facilities that enjoy broad public support.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.