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Speaking before a crowd of business leaders at an economic conference, the mayor struck an optimistic tone about the city's fiscal future.

"After each calamity like such deep downturns in the business cycle, New York has bounced back better than ever. I couldn't be more optimistic that we're going to do it again," said Bloomberg.

The mayor is running for reelection and he touted his accomplishments of the last seven years, including record low crime and higher graduation rates. He also said his debt reduction and budget cutting during the good times will help the city in the recession.

In an election year, Bloomberg lavished praise on the voters who will cast their ballots in November.

"Unlike the 70's, New Yorkers are more united than ever, we live together in ways we never used to and we support each other in ways we never used to. We believe in each other," said Bloomberg.

Some of those very New Yorkers later burst into the hall, denouncing what they say was the mayor's hobnobbing with the business elite while the city's poor are being disenfrachised.

"There are eight million people in the city and we have a right to participate in the discussion of our future," said one protestor.

The mayor dismissed the hecklers. At a later event, he said the city's neediest are being helped.

"If you don't like wealthy people or successful, attractive businesses, then you don't have a tax base. We're really all in this together," said Bloomberg.

The mayor's optimistic tone comes just days after he laid out a dismal financial outlook for the city in his budget address.

He warned that without state and federal help to close a $4 billion budget deficit, the city could lay off tens of thousands of employees, including teachers. He also proposed raising the sales tax -- issues his rivals will likely seize on during the campaign.