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this post was submitted on 16 May 2026
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To be fair, NYC has always had a balanced budget. It's literally required by law.
Though there's definitely been an increase of social services which is good.
Though I think it's a misrepresentation to say that money came from taxing rich people more. The bulk of it, if I'm not much mistaken, has been from some creative accounting with the NYC pension system.
This is true, but also Adams left a huge deficit on his way out with must-pays with the sole intention of hurting Mamdani utilizing that requirement as a cudgel. It's nothing short of impressive that he was able to stick to his values and reverse the damage at the same time.
Was he able to do that? How do we know that at this point?
Wait. So it's still bologna? Who could've guessed?
And the city accountants last year over-estimated the number of employees they would have at the beginning of this financial year, so it turns out the city was planning to pay $1.3bn in salaries it realised didn’t exist.