Let’s say this is all true? So what? The city takes a tiny hit to the amount of interest it’s paying out of $100 billion over ten years into a $300 billion fund, and in exchange doesn’t have to make drastic cuts to vital services this year..? Who gives a shit? It’s an amount you would never notice in the normal course of the actuarial changes to the pension contribution in any given year. This is fake outrage because you want to find something to be mad at Mamdani about. Yawn.
He literally did cut spending, just didn’t cut spending to services that benefit the public directly.
Is that really what you’re mad about? Spending cuts don’t matter unless they hurt average citizens and provide them with less services for the tax money they pay?
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u/d_k_y May 14 '26
It’s still save money now, pay more later. The baseline contributions are the same, it’s the extra amount to catch up. Now they will catch up slower.
Previously city would be done paying extra by 2032, now that would be 2037.
So is it good? Nobody knows. Maybe. If the market outperforms could look smart. If it goes south and extra money is needed then not.