New York City's mayor is again under fire after spewing outlandish claims that his socialist policies are to credit for a balanced budget in the Big Apple, just after the city received a multi-billion dollar bailout from the state."In January, our administration inherited a $12 billion budget deficit — a fiscal crisis greater than the Great Recession," Mayor Zohran Mamdani said in a Tuesday post on X announcing that the debt had been cleared."We balanced the budget by taxing the rich and making government more efficient," Mamdani continued."We did not balance this budget on the backs of working people, and we never will."New York City Mayor Zohran Mamdani speaks during a primary-night watch party for NYC Congressional candidate Claire Valdez at 99 Scott Studio on June 23, 2026 in the East Williamsburg neighborhood of the Brooklyn borough in New York City.
(Michael M.Santiago/Getty Images)MAMDANI ALLOCATES $500K FOR REPARATIONS TALKS AS NYC FACES $5.4B DEFICITBut the real reason the budget it balanced is because the city was handed $1.5 billion by the state of New York in January — funded by working class taxpayers across the state — as part of a multi-year plan to bail out the fiscally-challenged city.
In late May, the city received another $4 billion.Of the combined $8 billion provided to the city's bailout fund under former Mayor Eric Adams' tenure and now Mamdani's mayorship, $5 billion was directly earmarked for the city to address fiscal measures.This includes allowing city government to defer pension contributions to close the budgetary gap.Mamdani's claims about socialist policies producing results — and his failure to mention the massive bailouts provided by taxpayer dollars — did not fly on social media.New York Gov.
Kathy Hochul holds media availability press conference and makes an announcement on abortion rights at the office on 633 3rd Avenue.(Lev Radin/Pacific Press/LightRocket via Getty Images)MAMDANI ALLOCATES $500K FOR REPARATIONS TALK...