NYPD costs rise as Wall Street protests continue

By MEGHAN BARR | October 11, 2011 | 2:40 AM EDT

NEW YORK (AP) — The protesters demonstrating against Wall Street are continuing to make their presence felt in lower Manhattan. That means the police are there, too. And there's a price for that.

Patrolling the protests has cost the New York Police Department close to $2 million, mostly in overtime pay. That's at a time when city agencies are looking for ways to cut their budgets under order from Mayor Michael Bloomberg.

Police Commissioner Raymond Kelly has said the budget cuts may cause the cancellation of a new class of police officers entering the academy in January.

James Parrott, deputy director and chief economist for the Fiscal Policy Institute, says the city's annual budget is $66 billion and it's unlikely the protests are going to cause a serious financial problem.