Mamdani Declares $12 Billion Budget Crisis

Mayor Zohran Mamdani on Wednesday addressed a looming $12 billion New York City budget shortfall, calling it the "Adams budget crisis" and pledging a balanced plan by Feb. 17. He blamed predecessors and urged Gov. Kathy Hochul to tax the wealthy, cited a $500,000 failed AI chatbot as one waste example, and warned of state–city funding imbalances.