Quote:
Two more bond-rating outfits Fitch and Kroll joined Moody's last Friday in declaring the city's outlook "negative"; the next step is a drop in Gotham's bond rating, which will push up borrowing costs.
That prompted city Comptroller Mark Levine to repeat his opposition to Mamdani's plan to grab $1.2 billion from the city's "rainy day" reserve; that cash is meant for an actual emergency, not to fund a new mayor's wish list.
This seems like a big miss. I'm surprised a communist lied or is wrong on the math.
Quote:
At a City Council hearing this month, Levine warned that city expenses are growing faster than revenues; he puts the budget gap above $7 billion $2 billion more than Mamdani claimed in his January budget.