Unresilient City
Even as the economy risks recession, New York keeps piling on spending that will be hard to cut.
In mid-February, just seven weeks into office, New York City Mayor Zohran K. Mamdani delivered somber news to state legislators: the city faces a $5.4 billion deficit for the fiscal year beginning July 1, the result, he said, “of budgetary failures of the past.” Even after spending cuts, he argued, th…
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