To view our videos, you need to
enable JavaScript. Learn how.
install Adobe Flash 9 or above. Install now.

Then come back here and refresh the page.

Unemployment is up, tax revenues are down and Mayor Michael Bloomberg's administration is ordering yet another round of budget cuts.

Fear about the city's ability to provide services like clean streets, good schools and well-staffed police precincts is soaring after city agency heads were told this week they need to collectively trim another $1.4 billion from their budgets next year.

"We have to be concerned first about vital services, about quality of life and making sure that doesn't deteriorate," said City Comptroller Bill Thompson.

The cutbacks come as more New Yorkers may be seeking government help.

Approximately 10,000 people are expected to lose their jobs in New York City each month for the next year, pushing the unemployment rate to 8.5 percent, according to a new report by the Fiscal Policy Institute.

"Unemployment is clearly on the rise and with that will go increased poverty and increased hardship, making it very problematic when the city, pressed by declining revenues, seeks to cut services benefiting low and moderate income individuals," said James Parrott of the FPI.

While some officials say they are confident that President-elect Barack Obama will provide additional assistance to help cities and states weather this economic storm, Bloomberg cautioned on his Friday radio show that the bailout approach has a potential downside.

"You can make the case that if the federal government bails you out there is no reason for anyone to ever be prudent again," said Bloomberg. "It is also true, at the same time, that some of these things are beyond the control of anybody."

Budget officials say the only way to balance the city's budget is to cut spending, raise taxes and look for help from the federal and state governments.

"I think it is likely we will be looking for some combination of those things," said Ronnie Lowenstein of the Independent Budget Office. "Particularly the state, which in many ways is in worse fiscal conditions than the city, may find it hard to be of much assistance."

Governor David Paterson is scheduled to unveil the state's executive budget on Tuesday. But no one is expecting that it will yield anything but more cuts for New York City.