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City Avoids Dramatic Cuts to NYPD

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New York City Mayor Mike Bloomberg is expected to give a budget update today. And officials say he's got some good news: the mayor won't have to cut the jobs of 892 police officers.

The Bloomberg administration had thought it would have to cut the officers' jobs to save $55 million in the City budget. Officials now say New York City will be able to avoid the reduction of the 35,000-officer police force because tax revenues have come in slightly above projections.

But a Bloomberg spokesman says there will be further cuts to other essential city services. Today's budget update from Mayor Bloomberg is based on tax revenues and money that New York City expects to receive from New York State. But there's still no state budget, and early proposals cut aid to New York City by up to $1 billion.