Emanuel: Chicago budget deficit cut in half

July 30, 2012 (CHICAGO) (WLS) -- Chicago's preliminary budget will be released on Tuesday, but Mayor Rahm Emanuel is already saying that the projected deficit of about $700 million has been cut in half.

He says making garbage collection more efficient is saving about $15-20 million a year.

Changes in payment of worker's compensation are netting another $15 million.

But the mayor is also using surplus funds and shifting some pension costs to the schools.

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