LOS ANGELES, Calif. /California Newswire/ — Today, at the Los Angeles Chamber of Commerce, Mayor Villaraigosa led a town hall meeting with the City’s business leaders, reiterating his commitment to act quickly to balance this year’s budget and put the City on a path to long term fiscal health and sustainability.

“Earlier this week, I urged City Leaders to enact a package of cost cuttings and revenue options, that when added to the elimination of 1,000 city positions will balance our budget, replenish our reserve fund and will maintain our good credit rating,” said Mayor Villaraigosa. “Ending the fiscal year with little or no reserves is absolutely unacceptable.”

At the town hall, the Mayor also restated his resolve not to make cuts in public safety.

“Public safety is the first obligation of government,” Mayor Villaraigosa said. “When you don’t have safe streets, everything falls apart. People become isolated. Kids turn into prisoners. Jobs evaporate. Families struggle just to survive. Public safety is the foundation of everything we are trying to build here in the City of Angels.”