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The Big Apple’s Rotten Budget Move: Raiding Pensions for Short-Term Spending
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The Big Apple’s Rotten Budget Move: Raiding Pensions for Short-Term Spending
At the end of April, New York City Mayor Zohran Mamdani proposed delaying pension plan contributions to help close the Big Apple’s budget deficit. The problem is that while delaying pension payments could free up $1 billion in the short term, the budget gap is $5.4 billion. This flawed strategy highlights a much larger problem: the Big Apple’s biggest budget pains are self-inflicted. Kicking the can down the road on mandatory pension contribu…
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