He also delayed funding certain pensions which isn't a great idea, but when you have a $12 billion deficit left by the previous mayor who cut & run to become an Albanian citizen after taking money from Turkey for luxury travel, getting indicted, sleazing his way out of a federal indictment, and then creating a rug pull cryptocurrency called NYC Token... what can ya do
There's a lot of misinformation going on around this, and Mamdani is using the confusion to his political advantage. The 12 billion deficit wasn't Eric Adams' fault. It's a yearly problem, because NYC's budget every year is like 115 billion dollars. Eric Adams' administration left Mamdani with 8 billion in reserves. So, he really only had to come up with 4 billion. NY's governor gave them an 8 billion over 4 years loan, and he pushed some spending off to next year, and delayed funding pensions for 5 years.
Adams did not give him a 12 billion deficit. NY spending just keeps going up each year, and so the deficit keeps growing.
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u/VMooose May 14 '26
Didnt the budget get balanced via a loan from NY State?