17 Jan 2026 10:19 am
Looks like the Democrat Socialist has an uphill battle, how is he going to produce the warmth of collectivism starting in the hole?
A $12.6 Billion Budget Gap May Complicate Mamdani’s Affordability Plans - The New York Times https://share.google/APbj3oAEtlBcYKn8p
Two weeks after Zohran Mamdani took office as mayor of New York City with an agenda as sweeping as it was expensive, the city’s new comptroller offered a sobering warning.
New York City is facing a “remarkable” budget gap of a kind that has not been seen since the 2008 financial crisis, the comptroller, Mark Levine, said on Friday.
The gap amounts to $12.6 billion in this fiscal year and next, which will present a major challenge for Mr. Mamdani.
The forecast reflects what Mr. Levine described as a conservative estimate of expenses, one that does not include a further expansion of a housing subsidy now tied up in court, new labor contracts or ramifications from a potential bursting of the “A.I. bubble,” as he put it.
It also does not account for unknown but not entirely unforeseen actions from President Trump, who has repeatedly threatened to withhold federal funds from New York City and recently called for defunding so-called sanctuary cities like New York.
A $12.6 Billion Budget Gap May Complicate Mamdani’s Affordability Plans - The New York Times https://share.google/APbj3oAEtlBcYKn8p
Two weeks after Zohran Mamdani took office as mayor of New York City with an agenda as sweeping as it was expensive, the city’s new comptroller offered a sobering warning.
New York City is facing a “remarkable” budget gap of a kind that has not been seen since the 2008 financial crisis, the comptroller, Mark Levine, said on Friday.
The gap amounts to $12.6 billion in this fiscal year and next, which will present a major challenge for Mr. Mamdani.
The forecast reflects what Mr. Levine described as a conservative estimate of expenses, one that does not include a further expansion of a housing subsidy now tied up in court, new labor contracts or ramifications from a potential bursting of the “A.I. bubble,” as he put it.
It also does not account for unknown but not entirely unforeseen actions from President Trump, who has repeatedly threatened to withhold federal funds from New York City and recently called for defunding so-called sanctuary cities like New York.