The city of San Diego released its annual five-year financial forecast Thursday that projects a budget deficit for next year of $179 million, which would be the largest in city history.

“A deficit this size is so significant that we can no longer shield the public from its impacts,” said Mayor Jerry Sanders, who made it clear that significant job cuts, as well as service cuts, will be a big part of his plan to pare down the deficit.

“As we begin putting together a solution to close our budget gap, we will examine every responsible alternative to cutting services. But make no mistake about it, there will be cuts and the public will feel them.”

There will be more from me later, but read a copy of the report here. For comparison’s sake here’s last year’s five-year financial outlook.

— LIAM DILLON

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