In the face of staggering tax revenue shortfalls, this year’s $88 billion city budget inflicted painful cuts to numerous city agencies — including about $770 million to the Education Department, according to the Mayor’s Office of Management and Budget. Meanwhile, contracts were trimmed by just over $300 million, to $17 billion, after ballooning for years.

The city should cancel contracts with multinational businesses like Deloitte and review the rest of the contracts with an eye to trimming or eliminating them, says NYC Councilman Ben Kallos, who chairs the Council’s Committee on Contracts.

“Before we start threatening to lay off and reduce wages for city employees, we should trim the fat and cut these bloated consulting contracts,” Kallos told The News.