Mayor Adams just got taken for a ride by the spendthrift City Council

Mayor Adams surrendered to City Council demands, resulting in a record-setting $116.1 billion NYC budget, $1 billion beyond his original Executive Budget, slashing previous fiscal hawk stance.

The latest budget shows a 7.5% increase in city-funded spending, with $5 billion in expiring federal aid replaced by local taxpayer funds, burdening NYC with long-term financial obligations.

Failure to increase Rainy Day fund size to prepare for economic downturns raises concerns, as pointed out by Citizens Budget Commission head Andrew Rein, potentially leading to severe future cuts.

Mayor Adams' claimed $8 billion reserve includes retiree health-care trust funds, masking true financial preparedness. Rising retiree health-care costs pose challenges due to a teachers' union decision.

Read at New York Post