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Mamdani’s plan to delay pension payments echoes the schemes that brought NYC to near bankruptcy

Despite a $7.1 billion hole, Mayor Zohran Mamdani has pushed back against any serious cutting to his budget and instead wants to delay required payments to city pension funds.

That’s precisely the kind of tactics that brought the city to the brink of bankruptcy in the ’70s.

At the least, it will saddle future taxpayers with unnecessary costs.  

For the moment, the city is on-track to meeting its long-term pension-funding obligations by its 2032 deadline. 

Yet to help close his budget hole, Mamdani would push $1 billion worth of payments into the 2040s.

That would be both costly and risky. 

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