"And that was two years before the economic world collapsed.
"Despite painful actions taken last year - closing swimming pools, reducing library hours, implementing "March as you pay parades," raising fees and taxes - we're still faced with about a $150 million shortfall for next year and a gap of more than half-a-billion dollars in our five-year plan.
"We don't have enough money for a snow removal fund, to say nothing of a rainy-day fund.
'THE GREAT recession has exacerbated and accelerated the financial crisis PICA warned us about. But it would be wrong to place blame on the recession and snow, and wipe our hands of any responsibility.
"For too long, those of us in this great chamber, and I include myself, have taken the easy way out.
"We've delayed, stalled, resisted and talked to death the actions we should have taken years ago. If I've learned nothing else in my first two years as mayor, it's that time is money.
"The cost of not acting is now choking us financially and has reduced our options to act.
"Take the Board of Revision of Taxes. We have just begun taking baby steps to reform our unjust, unfair, politicized and antiquated assessment system. In 1980, three decades ago, a Philadelphia Inquirer editorial titled "Assessment Reforms Overdue" cited a study by the Pennsylvania Economy League calling for major reform and deplored the inequitable system.
"We, the body politic, did little. As a result, when we need every dollar we can get our hands on, we can't even enjoy the added revenues that would normally flow our way from market-value adjustments.
