You can’t say we didn’t warn New York what was going to happen if it elected Zohran Mamdani, but I gotta say, I don’t think anyone predicted it would start collapsing so quickly. But, alas, it has. That socialist utopia that Mamdani was supposed to deliver has instead turned into a slow-motion fiscal catastrophe a mere two months in — and even the liberal media is starting to notice.
Mamdani unveiled a $127 billion budget for fiscal year 2027 this week — a staggering $5 billion increase over the prior year.
But what's $5 billion between socialists, right?
To put that into perspective, Mamdani’s proposed budget is actually larger than the budgets of 47 U.S. states, including Florida, which has nearly twice the population. And somehow, it still isn't enough. The city is staring down a $5.4 billion deficit, with the real gap potentially closer to $12 billion when you do the actual math.
So what was his plan? Tax someone else.
Mamdani went straight to Albany looking for a handout, demanding that Gov. Kathy Hochul raise taxes on the "ultra-wealthy" and the most profitable corporations. When Hochul told him to pound sand and cut spending instead, he obviously couldn’t do that, and now he is looking at saddling homeowners with a 9.5% property tax hike.
ICYMI: Clarence Thomas Unloads on the Supreme Court Over Tariff Ruling
“Faced with no other choice, the city would have to exercise the only revenue lever fully within our own control,” he said. “We would have to raise property taxes. We would also be forced to raid our reserves. To balance the budget as required by law, our preliminary budget takes the only path within our control: the second path. The options of the second path are the options of last resort. Options that we will only employ if there is no other means of arriving at a balanced budget.”
As a New York resident, I can say there’s finally something I can agree with Hochul on. Why should the rest of the state subsidize Mamdani’s socialist experiment in New York City? Let it foot the bill for the mistake of electing Mamdani. Remember, this is the guy who campaigned on affordability and making the rich “pay their fair share,” and now he’s already in a position where he has to tax regular people to cover the costs of his promises.
This budget crisis he’s facing two months into his term comes on top of him taking heat for poor trash cleanup and snow removal on his watch. Two months into the job, and the basics aren't getting done.
Conservatives warned about exactly this before last year's election. We said a self-described democratic socialist running one of the world's most financially complex cities was a recipe for disaster. Voters in New York went ahead anyway. Now the city faces the reckoning that was entirely predictable.
"No one in New York is ambitious enough to dramatically reshape city government, and residents either vote for class warfare or vote with their feet," the Washington Post editorial board observed. “A reckoning will have to come eventually. The question is how bad it gets before reality sets in."
That question may answer itself sooner than anyone expected.
Want to support fearless journalism that exposes the left and tells the stories the media won’t? PJ Media delivers the truth and holds the powerful accountable. Become a VIP member today—your support fuels our mission and unlocks exclusive content, podcasts, an ad-free experience, and more.
Use code FIGHT for 60% off. It's a great time to join our movement. Join now and stand for America-first journalism!
Join the conversation as a VIP Member