Mayor Todd Gloria welcomed the era of austerity in his State of the City speech Wednesday, promising to tame a $258 million budget deficit this year. Driving the news: Shirking the pomp and circumstance of a Balboa Theatre evening address,

A one-cent sales tax measure which could have shored up that deficit narrowly failed in November. As a result, Gloria and the city will have to determine how to maintain service levels and what must be cut.

Facing a $258M deficit, Mayor Gloria's address will focus on budget cuts, public safety, and the homelessness crisis at 3 p.m. Jan. 15.