Mamdani’s ‘Balanced Budget’ Is an Accounting Atrocity
New York City Mayor Zohran Mamdani has released a $124.7 billion budget for FY 2027, claiming it is balanced without raising property taxes or cutting services. Critics argue that the budget relies on accounting tricks and state bailouts, masking a significant budget shortfall. The city's financial situation is dire, with a projected $10.4 billion gap for FY 2027, raising concerns about the sustainability of Mamdani's fiscal management.
- ▪Mamdani's budget claims to be balanced despite a projected $10.4 billion shortfall for FY 2027.
- ▪The budget relies on a $4 billion state bailout and accounting gimmicks to appear balanced.
- ▪NYC's spending on public education is the highest in the nation, yet schools are failing to teach basic literacy.
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| Original publisher | RedState |
| Canonical URL | https://redstate.com/heartlandinstitute/2026/05/20/mamdanis-balanced-budget-is-an-accounting-atrocity-n2202473 |
| Publication time | Wed, 20 May 2026 06:15:00 -0400 |
| Retrieval time | 2026-05-20T10:20:02.298Z |
| Last seen | 2026-05-20T10:58:45.762Z |
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Mamdani’s ‘Balanced Budget’ Is an Accounting Atrocity By The Heartland Institute | 6:15 AM on May 20, 2026 The opinions expressed by contributors are their own and do not necessarily represent the views of RedState.com. AP Photo/Angelina Katsanis In mid-May, after extending the executive deadline, New York City Mayor Zohran Mamdani released his $124.7 billion Fiscal Year (FY) 2027 Executive Budget. Advertisement googletag.cmd.push(function () { googletag.display("div-gpt-300x250_2"); //googletag.pubads().refresh([gptAdSlot["div-gpt-300x250_2"]]) }); After warning that NYC faces a budget crisis of “historic magnitude” in late April, Mamdani now assures the 8.5 million residents of the Big Apple that the city is on “firm financial footing” after he “balanced the budget” “without raising…
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