And welcome, members of the public who joined us this morning. This years budget reflects a lot of hard work between City Government and the people that we serve. Weve met in every district of the city. Weve worked with our elected city family. We listened to hundreds of Community Leaders and providers who help us deliver services to the people of San Francisco. And its because of this consensus approach that im proud to propose a responsible and balanced twoyear budget that reflects the core values that we share in San Francisco, values of fiscal responsibility, social responsibility, and investing in our citys future. When we began this years budget, we began like many years before, trying to reduce significant budget deficits. But because we have pursued policies to control costs, grow our economy, create jobs and stabilize our fiscal health, this year im proposing a budget that protects our social safety net, one that increases Public Safety, and one that invests in our citys infra
Been watching with the euro. A decision is expected around 7 45 eastern time. But the Key Developments for the market could come at 8 30 eastern. Thats when the ecb president mario draghi is holding a News Conference. Well get previews from geoff ket mo c cutmore in europe in about 20 minutes. Jobless claims are seen at falling slightly to 335,000. As for the markets, joe mentioned the dow closing at a historic high. The s p 500 rose for the 16th time in the last 21 sessions, finishing within two points of a record. The nasdaq was not along ford ride yesterday. It closed a little lower to snap a threeday winning streak. You did see some of the high flyers that took it on the chin yesterday. You watch the futures this morning and youll see dow futures indicated open down by 20 points. S p off over 3 points. Andrew, back over on to you. We have a lot of Corporate News to get to. Toll brothers is buying a Home Building business of privately owned chipelle industries for backside 25 billio
Perspective on where the capital can come from. How we can attract more and way of foreign direct investment. Statesrole out of the. Thank you. Ago, if we try to put into a room people and try to talk about africa, the conversation would be very different. Today, we are talking up about returns. I think its great. I can only tell you that for coming next six years, you can imagine what that will mean for the capital. That is the manner in which we looking atto start the continent of africa. On a longterm basis, what it can be able to give. Investing in hard assets, like infrastructure him a which contributes results to gdp. The truth is that the whole ispetitive of the continent dependent on improving the infrastructure. That. The challenge is finding camp until capital. In what are an initial struggles were very much focused on whereby we couldnt get capital to commit to longterm funds. Airport, projects, with money that has to be out in five or six years of the economy. Therefore, i
Public who joined us this morning. This years budget reflects a lot of hard work between City Government and the people that we serve. Weve met in every district of the city. Weve worked with our elected city family. We listened to hundreds of Community Leaders and providers who help us deliver services to the people of San Francisco. And its because of this consensus approach that im proud to propose a responsible and balanced twoyear budget that reflects the core values that we share in San Francisco, values of fiscal responsibility, social responsibility, and investing in our citys future. When we began this years budget, we began like many years before, trying to reduce significant budget deficits. But because we have pursued policies to control costs, grow our economy, create jobs and stabilize our fiscal health, this year im proposing a budget that protects our social safety net, one that increases Public Safety, and one that invests in our citys infrastructure at unprecedented l
And balanced twoyear budget that reflects the core values that we share in San Francisco, values of fiscal responsibility, social responsibility, and investing in our citys future. When we began this years budget, we began like many years before, trying to reduce significant budget deficits. But because we have pursued policies to control costs, grow our economy, create jobs and stabilize our fiscal health, this year im proposing a budget that protects our social safety net, one that increases Public Safety, and one that invests in our citys infrastructure at unprecedented levels. And it is a budget that significantly grows our citys reserves. This budget is being delivered as San Franciscos economy is recovering, going, and moving in the right direction. And san franciscans are getting back to work. In fact, our Unemployment Rate has dropped, as you all know, from 9. 5 in january of 2011 to an astounding 5. 4 just last month. applause i know, i know it has it has not been easy. Weve h