Zohran Mamdani: “The city's budget at the time was $118.2 billion. That plan…”

“We begin with the budget crisis we inherited. This crisis did not materialize overnight. It originated with Mayor Adams 2025 November plan. The city's budget at the time was $118.2 billion. That plan projected a $4.7 billion gap in fiscal year 2027 and a $6.3 billion gap over fiscal years 2028 and 2029. We now know that those gaps were significantly understated. To understand the magnitude of what we inherited, the deficit left to us was larger than the gaps left by both Mayor Bloomberg and and Mayor de Blasio to their successors.” (04:03–04:19)

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