Make New York Post a Preferred Source New York City Mayor Zohran Mamdani released the modified budget for NYC that hiked spending by more than $3 billion to $129.2 billion. James Messerschmidt for NY Post Rolling in windfall cash from Albany and Wall Street, Mayor Zohran Mamdani is letting city outlays balloon even as massive deficits still loom.
Months after Gov. Kathy Hochul handed him billions in state help, soaring Wall Street bonuses are infusing city coffers with $1 billion in extra tax revenue.
Meanwhile, per City Hall’s recent mid-year fiscal update, Mamdani’s chief savings officers scratched out a mere $439 million in cuts — far short of the budgeted goal of about $1 billion.
That social-media spot showing him digging through sofa cushions and checking behind oil paintings as he hunted for savings? Surprise: The mayor only plays miser on video.
And so the city’s current-year spending has swelled to $129.2 billion, up from June’s $126 billion budget agreement — deepening the structural shortfall for coming years.
Among the adds: Mamdani quietly funneled another $1.1 million into his Office of Mass Engagement propaganda machine, $6.1 million total.
The nonpartisan Citizens Budget Commission fumes that his latest “plan amazingly baselines $1 billion in new annual spending, five times the new savings” noting that he “busts the budget” and “doesn’t balance it.”
Cue more Mamdani repeats of “tax the rich,” oblivious to how Wall Street bonuses plummet some years, while city and state leaders keep giving businesses fresh reason to move away.
Naturally, the mayor touts his spending plan’s “fiscal responsibility and public excellence.”
“Responsibility”? Only in his imagination, and on his videos.
