SF budget could grow to $500 million

December 5, 2008 5:43:35 PM PST
San Francisco Supervisor Jake McGoldrick confirmed Friday the city's $125 million budget deficit could grow to $500 million by next June, unless officials make major changes.

Mayor Gavin Newsom was supposed to announce his revised budget Friday, but that's now been postponed until sometime next week.

Newsom's plan is expected to include labor concessions, job cuts, and healthcare cuts.