New Yorks Bürgermeister Mamdani lobte die Schließung des Haushaltsdefizits von 12 Milliarden US-Dollar ohne Sparmaßnahmen
https://www.commondreams.org/news/mamdani-nyc-budget-deficit
New Yorks Bürgermeister Mamdani lobte die Schließung des Haushaltsdefizits von 12 Milliarden US-Dollar ohne Sparmaßnahmen
https://www.commondreams.org/news/mamdani-nyc-budget-deficit
35 Kommentare
Damn socialists
It’s actually really interesting how well they’re managing this and it’s a platform for others.
It’s about $1.5B in cuts called “optimization and efficiencies” and $3.5B in increased state funding and $500M in taxes. The vast majority is on state aid and cuts, but the entire discourse is on the second-home tax.
It relies HEAVILY on one-time delays to mandatory classroom sizes, pension deferments, and state support. But it’s a win now and it’s what he needed.
Absolute political masterstroke in messaging.
Can’t wait to see how people from NJ on Nextdoor describe how this will DESTROY the city.
“Why having a balanced budget is not always a good thing”
-News outlets
I don’t think I’ve ever wanted a politician to succeed more than Mamdani. If his term is successful, I really think it can be a model across the country to show what’s possible if we actually take action on bold ideas.
And on the flip side, I know there are a LOT of people actively hoping and working to make him fail, for the same exact reason.
Suck it Eric Adams and billionaires.
We’re taking this city back and we’re going to force you to pay what you owe.
They’re already villainizing him on certain news outlets. Rent control, taxing luxury second homes, and universal child care is evil.
What are the pension deferments?
And somehow the republicans are thought of as the people responsible with a budget, and my entire life I have seen them do nothing but explode the deficit.
Delaying funding pensions is quite the risk though. If the city cannot shore up this gap it can lead to a larger shortfall in the future as it raises costs l.
It’s amazing how only the left seems to be able to balance a budget and the so-called “fiscally conservative” right blows it up
The $4 billion from the state is mostly composed of the delay of $2.3 billion in required pension contributions by the city. This is the very definition of kicking the can down the road. It’s a short term fix with long term impact.
The loss of pension fund earnings on that $2.3 billion will have to be made up by the city when it’s due in 2037. Other jurisdictions which have done this have always come to regret it when those large amounts eventually must be paid.
Giuliani tried such a scheme in 2000 to improve his image (ability to provide a lot of city services without raising taxes) when he began his Senate campaign. He proposed deferring the payments for ten years, proposing that high stock market returns would fund all or most of the lost earnings.
That was a risky strategy and it failed. The attack on 9/11 caused a loss of earnings by the pensions which the city had to make up during the Bloomberg administration. That need to catch up led to a lot of cuts in city programs.
Deferring pension payments is nothing but trading long-term debt for short term zero deficit spending. -Chicago.
Eric Adams intentionally left the city’s finances a mess. Even as a Zohran fan I’m surprised he righted the ship so quickly.
I’m so glad he’s my mayor.
His actions are proving a few things: That raising taxes on oligarchs, which has been the greatest sin in human history according to Republicans, actually works. Also, that government actually works very well for average people when you have people in elected office who want to make it work. He’s also putting out to pasture this stupid Centrist Democrat obsession with austerity measures, and means-testing programs to fucking death to the point they don’t work, in the asinine belief that it’ll show Republicans how „serious“ they are about economics. He’s also broadly showing everyone that if they wanted to, they would. Not everything requires a ten-year case study and panels and studies to get shit done.
Use the government to invest in the well being of the people. What a concept. A breath of fresh air.
Fear not red states, NY and all its blue voters will still send train loads of surplus tax dollars to your “welfare queen” states to keep your roads paved and your methadone clinics open
More like Mamdaddy
Can’t wait for all the articles that will say that this is bad actually.
i mean sure if taking, i think i saw billions, from the state to cover the shortfall i guess that counts. as long as before the next budget he can make it work without needing state money to „fix“ things again.
He’ll have to raise taxes sooner than later to cover the deferred pension payments or it will balloon to what it is in Illinois. Fact of the matter is that we need higher taxes for the rich in general to have a balanced budget at every level of government.
Let Mamdani cook
Makes you wonder what the other guys were doing.
Facebook groups are questioning how it was possible for him to do it.
It’s funny that something that should happen every year is now questioned because previous administrations couldn’t do it.
But republicans said that can’t be done???
Waiting on someone from Alabama who makes $30k a year to tell me why this is bad. Not sure how to feel.
So it can be done.
It’s not perfect, and relies partially on a chunk of the money coming from the state but it’s still far better then the last few mayors did
Ok, not a Mamdani hater but can someone with more NY state knowledge explain to me how balancing the budget includes $4.5B from state coffers? Isn’t that just shifting the deficit to state tax payers or cutting services the state offers?
“Mamdani and Hochul announced that negotiations between the city and state had resulted in an additional $4 billion in funding from Albany, building on $1.5 billion the governor had committed to providing in February and funding for the city’s universal childcare program.”
How is this really balancing the budget when the child deficit moves to the parent entity? This seems like a big line item everyone is glossing over.
Precedent means so much in this country, whether for judicial decisions or political ones. Mamdani doing all of this on the main stage, and with little to no issue, means it’s not only possible, but that it can be replicated. Hopefully Americans wake up and realize that all the changes necessary for a better country and a better world are feasible and that there are people who will see them through if given the chance.
The one person who doesn’t seem all that thrilled with Mamdani’s budget is Mark Levine, NYC’s comptroller.
“Still, the Executive Budget relies on $2.8 billion in one-time measures and $2.3 billion in short-term pension savings, without solving for the fact that City government continues to spend more than we take in, even in a year of record revenues. The budget also relies on the implementation of strategies to lower the cost of rental assistance and special education, which will require close and transparent monitoring. Taken together, these actions delay addressing the deeper structural imbalances in the City’s budget, as is clear from out-year gaps of $7.1 billion in FY 2028 growing to $9.8 billion in FY 2030.”
https://comptroller.nyc.gov/newsroom/press-releases/new-york-city-comptroller-mark-levine-statement-on-fy2027-executive-budget-proposal/
He did it SO FAST too. Just shows corruption and incompetence is why we have the issues we have
He just put a huge target on his back, grifter politicians and the like are going to want him gone.
Republicans want one thing. POWER. They want you DEAD. They want your children DEAD. They do not care about you or anything about you. You work and then you die. That’s it. Wake the FUCK up USA. It’s 2026 FFS
I’m waiting for the WAPO editorial board’s outraged op-ed on this topic.
Delaying pension payments is not the way.
Sincerely,
Chicago