Mayor Eric Adams’ budgets should not provide the final say on the city’s finances.
New York City’s newly released executive budget – the largest in the city’s history – reflects Mayor Eric Adams’ latest plans for the city’s finances. But anyone invested in the state of the city government’s fiscal health should be careful when interpreting the latest numbers.
In a new report published by the Manhattan Institute, I show how the size of New York City’s fiscal problem is much bigger than what traditional budget analysis will suggest. While annual budgets present forward-looking plans, the city’s financial statements demonstrate how it has actually spent its money, offering a more complete and sobering perspective.
Continue reading the entire piece here at City & State New York
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Olivia Gonzalez is an economics PhD candidate at George Mason University and author of the Manhattan Institute report, “Fiscal Health Lessons for New York City.”
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