Wait, does this include the second home tax? I’m really hoping that’s still happening.
CrunchyCds on
Mamdani is doing a good job with messaging. Democrats often tell us we can’t dream big because things take time and it’s hard to implement change. **No turns out most are beholden to corporate donors and were playing us for fools this whole time and they could get shit done they just don’t want to.** Like Mamdani said in a speech, we are used to politicians telling us to dream big to get them elected and once elected they turn around and tell us to temper our expectations. Democrats are afraid of Mamdani because it makes them look like incompetent fools and it’ll make it harder for them to get relected.
Available-Trouble648 on
We are so beaten down and neglected by our government that seeing it working functionally and providing for the people is bizarre.
riptide123 on
Lmao I like mamdani but this is very misleading – it’s based on various revenue projections and aggressive estimates of not yet locked in savings. Adams did similar stuff and left office with an enormous hole once the estimates met reality. People should read the fine print.
I’d just add most of the “savings” here are just deferring billions in pension obligations down the road. This is exactly what Adams did and is very bad accounting.
ElectronicTap1109 on
If bill clinton was WOKE /s
howard10011 on
Meanwhile, in my adult lifetime, Republicans, the so-called “deficit hawks,” have run up massive debt for wars and billionaire tax cuts that will weigh the country down for generations.
TrainingPolicy2451 on
Hate to bring bad news but don’t think things are as optimistic as everyone is suggesting.
The budget heavily depends on $4 billion in new revenue from Albany
You’re telling me that the government is supposed to help it’s citizens?
Arsalanred on
Working government in my America? What the fuck is happening?!
Kitakitakita on
so it was that simple all along huh
RazzmatazzSuch7459 on
Conservative subreddit in shambles – How could a COMMIE be good at being fiscally responsible?
greggld on
*His new $124.7 billion budget proposal does not include property tax hikes, he said.*
That like two + months in Iran. That is my new multi billion dollar metric.
NgBling on
What the hell he is so efficient
Subie_doo on
Another thread said it’s only balanced due to delayed pension funding; which if true, he should 100% be criticized for. Just ask anyone from Chicago how that worked out for them in the long run.
I guess we will need more details.
Smart_Freedom_8155 on
Not quite sure why you guys are happy about this.
The reality of this all is that he only “balanced” the budget by taking in $4 billion from New York State.
Which, in turn, he accomplished (and I’m quoting other people who’ve already explain this) by:
– Deferring $2.3 billion worth of pension payments, which is going to impose much higher costs in future years. Kicking the pension can down the road is exactly why Chicago’s fiscal position is so terrible right now.
– Taking in $500M supposedl from the pied-a-tierre tax, but the Comptroller has argued this figure is ~$150M too optimistic.
– Bringing in a final $360M that’s supposed to come from “other actions” that the city has yet to explain.
You guys are celebrating because you haven’t actually looked at the numbers behind this.
mikeinanaheim2 on
“Damn Socialist!” Meanwhile, those brilliant Republican Fiscal Conservatives are burying the country in debt that will take generations to recover from, if ever.
EndlessSummerburn on
Now the MSM networks and Republican propagandists who have been reporting daily on NYC’s deficit will be quiet and never report on this.
SignedTheMonolith on
Can he come to Chicago?
bishpa on
Amazing what cutting out the grift can do!
Chaemyerelis on
We need a mamdani in LA.
jij07002 on
Can we please make him president?
Tolvat on
Wild! Please come to Ottawa, Ontario Mayor Mamdani! Our city councillors are useless.
RedditReader4031 on
Most of the balancing comes in the form of $4 billion in “funding” from Albany. I used quotation marks because of that amount, $2.6 billion is a waiving of required pension contributions. It isn’t money coming into the city’s coffers but rather, money not going out.
Sounds great, right? Except that the $2.6 billion won’t be earning during that time. The pension obligations remain unchanged. Therefore, this sum and the lost interest will have to be contributed by the city in the future. That the very definition or kicking the can down the road. It’s been done beforehand never works out well in the long run.
Chicago has had that as its operating standard for years. And their pensions are seriously underfunded. In the 1990’s and early 2000’s, New Jersey only met the actuarially specified retirement contributions in two of a twenty year period, leaving the state struggling to catch up.
In 2000, Giuliani made a deal to defer the city’s pension payments by eight years. He was about to run for the Senate and wanted to polish his image by allowing himself to go on a civic spending spree. The hope was that a rising stock market would cover the obligations and minimize the amounts owed.
Well, that’s not how it turned out. He was diagnosed with prostate cancer and dropped out of the race. And 9/11 happened and the stock market fell. Those gains were lost and the bill eventually came due while Bloomberg was mayor.
Borne2Run on
TIL NYC has a $125B annual budget
RiotSynthetics on
This is r/ conservative’s 9/11
IcyHeadTime on
This is why I’ve been saying, we need to kick corporate Dems out of the party. Newsom (a little bit less so), Kamala, Becerra, Spanberger. They just sit on their hands and expect us to worship them.
We need politicians that fight for US and not for corporations.
I’m tired of the “there was nothing we could do!” excuse they always give us. No more AIPAC, no more corporations. Get money out of politics
Cool-Wall8945 on
This is a proposal. Not been approved yet
LondonCallingYou on
>”With 1% of New York taxpayers paying 45% of all the taxes, the city is in a precarious position if they make those who create value feel like they’re best off moving their businesses and their lives to other jurisdictions,” Griffin said in an interview on CNBC.
Mamdani is an actual genius for picking his fight with this fucking moron who thinks saying things like billionaires are “those who create value”. As if working people don’t create value. What a way to lose the argument entirely.
Ven18 on
Let it not be lost that the socialist balanced a multi billion dollar budget deficit in under half a year and is still preforming all the basic things that are regularly ignored. Turns out actually collecting fines by shit landlords and ditching corporate crony contracts saves a shot ton of money.
ohheyimstillapieceof on
so weird as an american seeing the government work.
ExchangeOptimal on
This reminds me of early days of Kejriwal
SaddamMustaine on
Amazing to see someone in action who actually gives a fuck. Congrats to him.
Blue_foot on
The governor gave NYC $8B!
Thanks Kathy!
traveleasily on
This isn’t a joke. He has done something that I’m sure Newyorkers will appreciate. Turns out balancing budget is easy if you don’t take election funding from lobbyists and foreign interferences.
35 Comments
Amazing! More like this please
Wait, does this include the second home tax? I’m really hoping that’s still happening.
Mamdani is doing a good job with messaging. Democrats often tell us we can’t dream big because things take time and it’s hard to implement change. **No turns out most are beholden to corporate donors and were playing us for fools this whole time and they could get shit done they just don’t want to.** Like Mamdani said in a speech, we are used to politicians telling us to dream big to get them elected and once elected they turn around and tell us to temper our expectations. Democrats are afraid of Mamdani because it makes them look like incompetent fools and it’ll make it harder for them to get relected.
We are so beaten down and neglected by our government that seeing it working functionally and providing for the people is bizarre.
Lmao I like mamdani but this is very misleading – it’s based on various revenue projections and aggressive estimates of not yet locked in savings. Adams did similar stuff and left office with an enormous hole once the estimates met reality. People should read the fine print.
I’d just add most of the “savings” here are just deferring billions in pension obligations down the road. This is exactly what Adams did and is very bad accounting.
If bill clinton was WOKE /s
Meanwhile, in my adult lifetime, Republicans, the so-called “deficit hawks,” have run up massive debt for wars and billionaire tax cuts that will weigh the country down for generations.
Hate to bring bad news but don’t think things are as optimistic as everyone is suggesting.
The budget heavily depends on $4 billion in new revenue from Albany
* [$2.3 billion](https://www.nytimes.com/2026/05/12/nyregion/mamdani-budget-nyc.html) of which comes from deferring pension payments, which is going to impose much higher costs in future years. Kicking the pension can down the road is exactly why Chicago’s fiscal position is so terrible right now.
* $500M is supposed to come in from the pied-a-tierre tax, but the [Comptroller](https://comptroller.nyc.gov/reports/the-pied-a-terre-tax-and-its-potential-revenues/) has argued this figure is ~$150M too optimistic.
* $360M is supposed to come from “other actions” that the city has yet to explain.
Plus, in March, the [Comptroller](https://comptroller.nyc.gov/reports/comments-on-new-york-citys-preliminary-budget-for-fiscal-year-2027-and-financial-plan-for-fiscal-years-2026-2030/) also argued that the Mayor’s income and business income tax projections are too optimistic. If the Mayor’s rosy revenue assumptions don’t materialize, and the Comptroller’s more measured assumptions do, the spending and revenue gaps result in a $797M shortfall in FY 2026 and $2.85B in FY 2027
*Whoa, whoa, whoa*
You’re telling me that the government is supposed to help it’s citizens?
Working government in my America? What the fuck is happening?!
so it was that simple all along huh
Conservative subreddit in shambles – How could a COMMIE be good at being fiscally responsible?
*His new $124.7 billion budget proposal does not include property tax hikes, he said.*
That like two + months in Iran. That is my new multi billion dollar metric.
What the hell he is so efficient
Another thread said it’s only balanced due to delayed pension funding; which if true, he should 100% be criticized for. Just ask anyone from Chicago how that worked out for them in the long run.
I guess we will need more details.
Not quite sure why you guys are happy about this.
The reality of this all is that he only “balanced” the budget by taking in $4 billion from New York State.
Which, in turn, he accomplished (and I’m quoting other people who’ve already explain this) by:
– Deferring $2.3 billion worth of pension payments, which is going to impose much higher costs in future years. Kicking the pension can down the road is exactly why Chicago’s fiscal position is so terrible right now.
– Taking in $500M supposedl from the pied-a-tierre tax, but the Comptroller has argued this figure is ~$150M too optimistic.
– Bringing in a final $360M that’s supposed to come from “other actions” that the city has yet to explain.
You guys are celebrating because you haven’t actually looked at the numbers behind this.
“Damn Socialist!” Meanwhile, those brilliant Republican Fiscal Conservatives are burying the country in debt that will take generations to recover from, if ever.
Now the MSM networks and Republican propagandists who have been reporting daily on NYC’s deficit will be quiet and never report on this.
Can he come to Chicago?
Amazing what cutting out the grift can do!
We need a mamdani in LA.
Can we please make him president?
Wild! Please come to Ottawa, Ontario Mayor Mamdani! Our city councillors are useless.
Most of the balancing comes in the form of $4 billion in “funding” from Albany. I used quotation marks because of that amount, $2.6 billion is a waiving of required pension contributions. It isn’t money coming into the city’s coffers but rather, money not going out.
Sounds great, right? Except that the $2.6 billion won’t be earning during that time. The pension obligations remain unchanged. Therefore, this sum and the lost interest will have to be contributed by the city in the future. That the very definition or kicking the can down the road. It’s been done beforehand never works out well in the long run.
Chicago has had that as its operating standard for years. And their pensions are seriously underfunded. In the 1990’s and early 2000’s, New Jersey only met the actuarially specified retirement contributions in two of a twenty year period, leaving the state struggling to catch up.
In 2000, Giuliani made a deal to defer the city’s pension payments by eight years. He was about to run for the Senate and wanted to polish his image by allowing himself to go on a civic spending spree. The hope was that a rising stock market would cover the obligations and minimize the amounts owed.
Well, that’s not how it turned out. He was diagnosed with prostate cancer and dropped out of the race. And 9/11 happened and the stock market fell. Those gains were lost and the bill eventually came due while Bloomberg was mayor.
TIL NYC has a $125B annual budget
This is r/ conservative’s 9/11
This is why I’ve been saying, we need to kick corporate Dems out of the party. Newsom (a little bit less so), Kamala, Becerra, Spanberger. They just sit on their hands and expect us to worship them.
We need politicians that fight for US and not for corporations.
I’m tired of the “there was nothing we could do!” excuse they always give us. No more AIPAC, no more corporations. Get money out of politics
This is a proposal. Not been approved yet
>”With 1% of New York taxpayers paying 45% of all the taxes, the city is in a precarious position if they make those who create value feel like they’re best off moving their businesses and their lives to other jurisdictions,” Griffin said in an interview on CNBC.
Mamdani is an actual genius for picking his fight with this fucking moron who thinks saying things like billionaires are “those who create value”. As if working people don’t create value. What a way to lose the argument entirely.
Let it not be lost that the socialist balanced a multi billion dollar budget deficit in under half a year and is still preforming all the basic things that are regularly ignored. Turns out actually collecting fines by shit landlords and ditching corporate crony contracts saves a shot ton of money.
so weird as an american seeing the government work.
This reminds me of early days of Kejriwal
Amazing to see someone in action who actually gives a fuck. Congrats to him.
The governor gave NYC $8B!
Thanks Kathy!
This isn’t a joke. He has done something that I’m sure Newyorkers will appreciate. Turns out balancing budget is easy if you don’t take election funding from lobbyists and foreign interferences.