Mayor-elect Mamdani reeks of Lenin but NYCs wise safeguard against Marxism stands in his way
Zohran Mamdani’s victory-lap speech Tuesday night reeked of Vladimir Lenin after Russia’s 1917 communist revolution.But instead of commanding a Red Army, the mayor-elect should be aware he will be facing lots of red ink. That’s on top of some very strict and sensible financial rules put in place some 50 years ago — just in case a deranged Marxist ended up running New York City. Yes, socialism can sound rousing when it’s pitched by a skilled orator.
Mamdani spoke of soaking the rich — failing to mention, of course, that they’re already paying some of the highest taxes in the country.He ranted how the poor will finally have their day — in a city that already doles out everything from free health care to subsidized housing. He also dared President Trump, who was in DC undoubtedly watching this spectacle, to “turn up the volume” as he doubled down on his vision: free buses, government groceries, more welfare and free trans medical treatment — even for children. But NYC — with plenty of welfare statism already on the books — will never go full-on Soviet Union.That’s because laws must be followed — even by a 34-year old backbench, lefty assemblyman with a degree in “Africana Studies” who visions himself as the second coming of Fidel. Those laws include something called “The Financial Emergency Act” of 1975.
It was the brainchild of former Gov.Hugh Carey and his outside adviser, the great philanthropist and investment banker Felix Rohatyn.
It was designed to prevent another politician-made catastrophe like the fiscal crisis of the 1970s, when the Big Apple nearly went bankrupt and began to implode, fiscally and socially. Cops were laid off and garbage piled up because we had no money and no one would lend to us — the budget was such a mess, no one knew if they would get paid back.The mayor at the time was Abraham Beame but years of bad government, perverse spending and spotty accounting contributed to the mess. Gerald Fo...