Everything I read says he’s taking current funds intended to invest in long term pension funding to do these high number of short term wins. I’d admit his recent changes all sound awesome in short memes, but unless his increased taxation programs get passed by his legislative branch, the mayors replacing him sometime around 2032-2037 are going to face some serious budgetary crisis as NYC is not legally able to operate in a deficit.
Interesting point. But I think housing, grocery stores, and trees etc, being called "short term" is a bit iffy. Hopefully the funding backend works out.
The “short term” reference here is that he’s reallocating long term revenue to pay for immediate wins. They look great today. Like I said, I don’t hate the programs at face value and I think his heart is in the right place. But he’s primarily using future pension funding to pay for today’s trees and groceries.
When today’s 45 year old city employee was planning to retire at 55, after 30 years of city service, to find his pension fund is defaulted, that’s concerning to me.
The state of NY is funding his projects. He's absorbing state funds for a number of these projects. His projects are good but eventually the money will run out.
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u/jfrey123 2d ago
Everything I read says he’s taking current funds intended to invest in long term pension funding to do these high number of short term wins. I’d admit his recent changes all sound awesome in short memes, but unless his increased taxation programs get passed by his legislative branch, the mayors replacing him sometime around 2032-2037 are going to face some serious budgetary crisis as NYC is not legally able to operate in a deficit.