Zohran Mamdani’s New York City was downgraded economically to negative. Moody’s doesn’t think much of Zohran’s communist economics. Moody’s chalks it up to the city’s large and persistent projected budget gaps. It also cited Mayor Mamdani’s plan to draw down reserves to balance the budget this year.
Zohran won’t cut a thing.
The negative outlook won’t have any immediate impact on the city’s borrowing abilities or bond rating, which remains strong.
But it serves as a warning shot to the city over its financial footing.
Mamdani and other officials have warned that the city is in dire financial straits. Zohran largely blames it on chronic underbudgeting under the previous mayoral administration. He wants more money, and he wants it from anyone with a house and white people. To balance the city’s books, the mayor has proposed taking nearly $1 billion from the city’s “rainy day” fund.
He plans all kinds of wasteful freebies and will spend, spend, spend.
To be fair, former Mayor Adams was forced to spend inordinate amounts of money on illegal aliens, many of them criminals.
“Moody’s decision to revise the outlook on New York City’s credit rating — while maintaining it at Aa2 — is premature,” said Dora Pekec, a spokeswoman for Mamdani, citing $5 billion in additional funding for the five boroughs that state lawmakers are pushing for in Albany.
“These proposals reflect a real commitment by Albany to investing in the services New Yorkers rely on and the fiscal health of our city. We look forward to continuing our productive conversations with our partners in Albany and the City Council as we work to close the inherited deficit and restore the city to a firm financial footing after years of underbudgeting and mismanagement.”
Dora still doesn’t get it, so the city will go down. Communists never get it. Even after they kill 100 million people, most from starvation, they don’t get it.
Oh, by the way, Zohran Kwame is planning to raise the minimum wage from $17 to $30 and, by 2030, to $32. He’s as dumb as the carrot I’m eating right now.
New York City is also worthy of being downgraded politically, socially, and culturally. New York City is no longer American. It’s all foreigners who know not what they do.
