Imagine you work for the budget office in your city. The chief budget officer for the city reports to the staff that revenues are 7.3% below the forecast level of $6.8M for the first five months of the budget year. She asks for ideas on what, if anything, should be done to deal with the problem. The city is legally forbidden to borrow to cover operating deficits. What are some of your suggestions for the chief? Justify your response.
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