Mamdani won’t spend New York City into bankruptcy with his socialist looting spree; he will spend New York State into bankruptcy.

The New York Post reports:

Mayor Zohran Mamdani unveiled a whopping $124.7 billion executive budget for New York City on Tuesday – built on the back of $4 billion in funny money from Gov. Kathy Hochul. …

The supposed state assistance largely consisted of kick-the-can measures delaying massive spending, namely a move to restructure $2.2 billion in pension plan payments.

Counting on the state to pay for your retirement might not work out so well.

Albany cannot afford to pick up Mamdani’s tab:

Another measure that pushes back a mandate for maximum school class sizes was counted by the governor’s office as $508 million in state support, even though it just delayed when the city will have to pick up a costly tab.

A bailout tally provided by Hochul’s office also included a $500 million windfall from a pied-à-terre tax on luxury second homes – despite the levy being still on the drawing board and city Comptroller Mark Levine arguing the revenue estimate is roughly $200 million too high.

Too bad the Empire State can’t just print the money. That’s why Democrats need to secure power at the national level.

On a tip from Wiggins.

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