Mayor Eric Adams gave his first Executive Budget address Tuesday - unveiling a record $99.7 billion fiscal year 2023 spending plan.
What happened to austerity?
In February, Mayor Adams was the Grinch when it came to his first city budget proposal, for the fiscal year that starts this July (FY 2023). Two months later, in his revised budget out Tuesday, he has turned into Santa Claus. Adams had better enjoy his out-of-season Christmas, though, because come winter, he may face such an inflationary crisis that all that’s left is coal.
Adams unveiled a budget Tuesday that tops out at $103.6 billion, $77.5 billion of it from city taxpayers (the remainder comes from federal and state taxpayers, through regular grants to the city).
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Nicole Gelinas is a senior fellow at the Manhattan Institute and contributing editor at City Journal. Follow her on Twitter here.
This piece originally appeared in New York Post