By The New York Post Editorial Board
More, more, more: That’s all New York Democrats ever want when it comes to spending other people’s money — and their greed is now holding up both the state and city budgets.
On Tuesday, Mayor Zohran Mamdani must release his fiscal plan for the new fiscal year, which begins in just seven weeks.
Except he’s barely pretending to have a plan, even after getting a two-week extension, since what he releases will be riddled with gaps, placeholders and question marks that belie any headline total-spending figure (pegged at $127 billion in February, but expect it to be larger now).
Mamdani’s excuse for the “numbers to be named later” bull?
He says he’s waiting for the state to decide how it’ll fill the $5.4 billion shortfall in his plan — even though it’s beyond obvious that it won’t.
He’s just using Albany’s delay (six weeks and counting) in sealing its own budget as an excuse to avoid the inevitable tough choices.
Gov. Kathy Hochul and the Legislature’s leaders will send him $1 billion in one-time funds this year, $500 million a year more starting in July, plus OK a new pied-à-terre surcharge they hope will raise yet another $500 million — and maybe delay some expensive class-size mandates for a year or two (so the money can be wasted later, rather than now).
Meanwhile, Hochul’s state budget called for $260 billion in spending — more than a quarter of a trillion, or $13,000 for every resident, assuring New York a place among the nation’s two or three biggest-spending states yet again.
Progressives then pushed her to add on yet another $8 billion. And it’s still not enough.
So what’s the problem? The economy’s sound; there’s no Great Recession; terrorists haven’t leveled the city’s two biggest skyscrapers recently.
No, it’s simple greed — and magical thinking, all around.
Mamdani ignored ample warnings about budget reality as he campaigned on “free stuff”; he’s now quietly rolling back some of last year’s vows (expanded rental assistance; a few education initiatives) yet still can’t make ends meet.
In other words, he lied through his teeth all along, and still won’t admit it.
He’s only slapped his trademark smirk on top of Democrats’ standard plan for New York — taxing residents to the hilt, then crying poverty.
Drawing up and passing a budget is a basic job of government.
It seems Hochul & Co. are finally close to a deal on state taxes and spending, with voting likely to start this week.
Maybe then Mamdani will finally start doing his job and cut spending so it doesn’t exceed revenue.
We look forward to seeing how his fans like that TikTok.
Mamdani’s running out of ‘magical thinking’ room — time to actually do his job https://t.co/HjJ5dLwED1 pic.twitter.com/0hAv78bs14
— NY Post Opinion (@NYPostOpinion) May 11, 2026
