Zohran Mamdani: “We're talking about a generational fiscal deficit, as you…”

“Expectations setting? Like you might not be able to hit all of the affordability goals that you set out. We just want to be honest and transparent with New Yorkers. We're talking about a generational fiscal deficit, as you said, inheriting what was $12 billion. And thanks to the work that we've done in terms of savings, in terms of utilizing our reserves, we've brought that down to $5.4 billion also in partnership with the governor's commitment to this city.” (02:27–02:33)

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.