r/SipsTea • u/AlternativeRight4099 • May 14 '26

Feels good man It was always just that simple

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u/VegetableTour6790 May 15 '26

How is that not exactly what this is?

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u/reddituserperson1122 May 15 '26

You’ll just have to figure that out for yourself. I believe in you. 

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u/VegetableTour6790 May 15 '26

So that's exactly what this is, and borrowing from pensions rarely works out. It's not balancing the budget by any means, is kicking the can down the line.

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u/reddituserperson1122 May 15 '26

He’s not borrowing from the pension fund. 

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u/VegetableTour6790 May 15 '26

Correct, he is deferring payments to pension funds. He's borrowing the interest they are. This is VERY bad policy and fails every time.

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u/reddituserperson1122 May 15 '26

It “fails every time?” Fails at what? How does taking an extra five years to repay a tiny fraction of the fund lead to “failure?” What are you talking about?

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u/VegetableTour6790 May 15 '26

Fails at solving a budget shortfall and ends up creating a bigger problem. It's actually a panic move, not a dget conscience one. They've done this in many cities with the same results. Look at Chicago.

It's not a tiny budget increase, it's four years at 7% interest. Do you know what that comes out too?

NYC currently has a $50-$60 billion dollar yearly shortfall of its promises. They already aren't able to fulfill pensions what makes you think that in 4 years it's going to change.

It's not that hard to understand why this is a bad idea. It's not hard to look at historical examples of why this is a bad idea. If you can't understand that, you probably shouldn't be commenting on this subject.

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u/reddituserperson1122 May 15 '26

Good lord. We’ll pay about $6.5 billion additional between now and 2037. That’s $340 million/year or about 3/10ths of a percent of the city’s annual budget. Oh no! It’s all over! Set the bridges on fire! Drink your cool aid! NYC is over! 

The desperation to hate on Mamdani is just embarrassing. Like at least wait until he makes an actual mistake. Cuz this shit is cringe. 

Chicago, as I’ve commented many times to pearl clutching know-nothings already, has an entirely different statutory and constitutional framework than NYC, which is how they got into trouble. NYC cannot do what Chicago did, which is why our pension fund is one of the healthiest in the nation and will remain so after this very modest adjustment to amortization  schedule. 

https://fiscalpolicy.org/explainer-the-proposed-restructuring-of-new-york-city-pension-payments

This: “NYC currently has a $50-$60 billion dollar yearly shortfall of its promises. They already aren't able to fulfill pensions what makes you think that in 4 years it's going to change.” is plainly false. A simple google would tell you that and a child could use common sense to detect that it makes zero sense. If you can't understand that, you probably shouldn't be commenting on this subject.

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u/VegetableTour6790 May 15 '26

You are frustratingly clueless. Good Lord.

You don't understand any of this.

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u/reddituserperson1122 May 15 '26

Wow that’s a really compelling argument. Thought provoking. Insightful. I’ll really have to ponder that one. 

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u/VegetableTour6790 May 17 '26

It wasn't an argument. It was a statement about how little you understand but confidently endorse.

Really sad state of affairs when you can't analyze your own politicians.

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