Financial Desperation at LA City Hall

Former LA Councilwoman Wendy Gruel is now City Controller, the auditor and chief accountant, who studies economic forecasts and tells the Mayor and the Council what to expect. The answer for the next fiscal year is "not much." Some city revenues will increase, but decreasing property tax will outweigh any gain, leaving a deficit of $484 million. We talk with Gruel and Council President Eric Garcetti.