Good morning. I want to speak directly to New Yorkers who have for too long been misled and misinformed about the true state of our city's finances. I will be blunt. New York City is facing a serious fiscal crisis. There is a massive fiscal deficit in our city's budget to the tune of at least $12 billion. We did not arrive at this place by accident. This crisis has a name and a chief architect. In the words of the Jackson 5, it's as easy as ABC. (00:14–00:25)
CLAIM
Asserts that New York City has a fiscal deficit of at least $12 billion.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.