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Started By
Message
re: Mamdani inherited a $12 Billion budget deficit and already has it to zero.
Posted on 5/14/26 at 1:29 am to OysterPoBoy
Posted on 5/14/26 at 1:29 am to OysterPoBoy
Because he got a $4 billion bailout from the State. That’s the only reason.
0
Posted on 5/14/26 at 1:48 am to LSUBoo
quote:
are still just estimated..
Like ‘self deportations’?
Posted on 5/14/26 at 2:05 am to OysterPoBoy
"America better pay fricking attention"
Or you'll do WHAT, Communist bitch?
Or you'll do WHAT, Communist bitch?
Posted on 5/14/26 at 2:17 am to OysterPoBoy
They're including tax money that they will never actually see.
Posted on 5/14/26 at 4:39 am to OysterPoBoy
Instead of posting a fake meme, how about posting some real numbers about what is going on that that democrat utopia.
Posted on 5/14/26 at 4:53 am to LSUBoo
quote:
Pretty sure he got bailed out by the state, and most of his cuts are still just estimated... So now the whole state of New York is supporting NYC instead of just the wealthy in he city.
Plus you could just pencil whip a few numbers to make the budget on paper sound fiscally sound like Teedy did in Nola, you are broker than before or he did some Helena Moreno crap and bonded out future revenues for funds today like a Payday Loan.
Posted on 5/14/26 at 5:05 am to OysterPoBoy
quote:Goodness!
Not what I thought the guy would bring to the table but you have to admit maybe he’s onto something.
• First, the $12B deficit he cites was over a 2-yr span, and it was budget projection, not a translated deficit.
• Second, Mamdani seems to skip over the small detail of $8 billion in state aid coming from Governor Hochul and upstate taxpayers being given to him to fill the gap
• Third, any real savings claims are dubious. Instead, he games his current budget by manipulating numbers with accounting gimmicks such stretching out pension payments.
• Fourth, Mamdani's "budget" relies on billions in one-shot or short-term money, but used to fund permanent programs.
• The latter is a balloon note which will come due. E.g., The NYC comptroller is already flagging a roughly $7 billion shortfall for fiscal year 2028.
Posted on 5/14/26 at 5:17 am to HailHailtoMichigan!
quote:
Mamdani delayed pension contributions to “reduce” this years deficit. This doesn’t solve anything, because those contributions will need to be made eventually
Yep. Terrible idea
Posted on 5/14/26 at 5:20 am to sgallo3
quote:Not if the press carries your water, and folks believe the press.
Yep. Terrible idea
Posted on 5/14/26 at 5:37 am to OysterPoBoy
You can’t be serious? Are you an actual adult?
Posted on 5/14/26 at 5:37 am to OysterPoBoy
It blows my mind how someone can read a few sentences, from someone they don't know or have never met, and believe every word even though it makes zero sense.
Absolutely boggles the mind. It's too easy to spread propaganda and gullible people to immediately take it as fact. Way too easy.
Absolutely boggles the mind. It's too easy to spread propaganda and gullible people to immediately take it as fact. Way too easy.
Posted on 5/14/26 at 5:46 am to DesScorp
quote:she will post another pro-commie lie to confuse ppl making this anti-human religion nice looking.
Or you'll do WHAT, communist bitch?
Posted on 5/14/26 at 5:50 am to HailHailtoMichigan!
quote:
2) despite warnings from numerous economists, Mamdani delayed pension contributions to “reduce” this years deficit. This doesn’t solve anything, because those contributions will need to be made eventually.
In the 60s congress started taking the interest from social security since they legally could not touch the principal. Unfortunately the interest was what the originators had planned on to make it solvent. Well that and not letting every frickin person "on the spectrum" of down syndrome rape it, every person with a hangnail claim disability for life.
But then congress passed a bill to make companies legally have to fund their pensions as they go. Any of you who work for a big corporation get this big memo with page after page of legal and financial info once a year, that is what that 20 page memo is about. Yet.....they continued to rape social security.
So its no wonder the states and cities took the lead and started to do the same. Illinois is only about 39% funded with a gap of 200 billion. California has a 265 billion gap. It was so bad they passed a stand alone bill mandated they close the gap.....and Newsome somehow took that money, I guess the diapergate had to be funded.
Posted on 5/14/26 at 5:56 am to OysterPoBoy
This is the tax money hochul is giving the city, gotta milk the rich somehow.
So when Trump limited the SALT cap on federal taxes back in his first term, the state of NY invented this pass through entity gimmick to continue to allow the deduction. Now the state of NY is saying we will keep that money ourselves.....
quote:
A pied-à-terre tax is a proposed annual surcharge on luxury residential properties (valued at $5 million or more) in NYC that are not used as a primary residence, specifically targeting owners who live elsewhere. Aimed at wealthy, non-resident owners to generate revenue for city services, the tax would range from 0.5% to 4% for second homes
So when Trump limited the SALT cap on federal taxes back in his first term, the state of NY invented this pass through entity gimmick to continue to allow the deduction. Now the state of NY is saying we will keep that money ourselves.....
This post was edited on 5/14/26 at 6:03 am
Posted on 5/14/26 at 6:07 am to OysterPoBoy
Here is what is happening. A budget is based upon projected expenditures and income. If I project my expenditures to be $30 Billion (based on all city services) and $30 Billion income (based on what I am going to tax the public), then I have balanced the budget. The money spent is usually much higher and income much lower. When these taxes were imposed on billionaires, the budget does not consider that some of these people/corporations are going to leave, thereby throwing a monkey wrench in your budget. Socialism never works, even when it is dressed up all nice.
Posted on 5/14/26 at 6:10 am to OysterPoBoy
The amount of idiotic communists and bots posting... "see Marxism works" on X...is freaky .
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Posted on 5/14/26 at 6:12 am to OysterPoBoy
Yeah. With a bailout from the state.
Absolutely proving the point hat socialism is great as long as you have other people's money to spend.
He hasn't done shite.
Absolutely proving the point hat socialism is great as long as you have other people's money to spend.
He hasn't done shite.
Posted on 5/14/26 at 6:14 am to OysterPoBoy
This is a complete lie. He was handed a fully balanced budget with a surplus of cash. He is lying rube.
Posted on 5/14/26 at 6:17 am to HailHailtoMichigan!
quote:
delayed pension contributions to “reduce” this years deficit. This doesn’t solve anything, because those contributions will need to be made eventually.
Do they?
The socialists out west are just taking money outright from the pension funds to cover their initiatives.
Posted on 5/14/26 at 6:18 am to OysterPoBoy
Oh sure, Mom-dummy's just brilliant 
quote:
AI Overview - How has Mamdani balanced the NYC budget
New York City Mayor Zohran Mamdani balanced the $124.7 billion Fiscal Year 2027 Executive Budget by erasing an inherited $12 billion deficit down to zero through a combination of massive state aid, targeted municipal savings, wealth taxation, and structural spending delays.
State Aid & Revenue Restructuring
$4 Billion State Cash Infusion: Partnered with New York Governor Kathy Hochul to secure an additional $4 billion in state help, bringing total state support to nearly $8 billion across two years.
New Pied-à-Terre Tax: Fulfilling a core "tax the rich" campaign promise, the state authorized a new luxury surcharge on nonresident second homes valued over $5 million, projected to generate $500 million annually.
Unincorporated Tax Credit Clawback: Reclaimed $68 million by dialing back a tax credit that primarily benefited millionaires.
Municipal Savings & Local Fees
$1.77 Billion Agency Efficiencies: Leveraged new "Chief Savings Officers" across city agencies to slash waste and manage overtime, which included trimming $100 million in non-salary expenses from the Department of Education.
Vacancy Freezes: Realised immediate structural savings by freezing unfilled city employment positions.
Targeted Local Fee Hikes: Increased local service rates to generate revenue, including an extra $24.6 million from higher ambulance fees, $10 million by charging for EMS on-scene treatment without transport, $15 million via expanded bus-lane camera ticketing, and $2.3 million from surging handgun license requests.
Strategic Capital Delays & Policy Shifts
Pension Payment Deferrals: Lowered immediate financial obligations by $2.3 billion over two years by extending the repayment timeline for underfunded public pension debt out into the 2040s.
Class-Size Mandate Delay: Negotiated a two-year extension with state lawmakers to delay a strict public school class-size reduction mandate, avoiding $500 million in immediate costs for hiring new teachers.
Housing Voucher Spending Restrictions: Curtailed the ballooning costs of city homeless shelters and the CityFHEPS housing voucher expansion program to net $500 million in savings
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