It’s good news Wednesday, everybody, which is what happens when you schedule Budget and Finance hearings on Wednesdays.

Do you remember how San Francisco closed a record-breaking budget deficit just a few months ago? You might not by this time next year, as the city will face another, bigger, faster stronger budget deficit this spring — “well north of” $450 million, according to Greg Wagner, the Mayor’s budget director.

For those doing math at home, this means that over the past several years, the city has been well over $1 billion overspending.

The final tally/total should be announced tomorrow afternoon, Wagner said. More on this as the number develops, grows, morphs into an evil robot powered by fear and marches down Market Street, demanding free parking.

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