"Mamdani's Slight Of Hand" - NYC's Balanced Budget Lie DEBUNKED

Added: 2026-05-14

[00:00:00]So Mandani comes out and says, "Guess what? We've officially balanced the budget."

[00:00:06]>> And all the socialists are like, "Dude, the guy is crushing it. What a freaking rockar." And then behind is this the video talking about he balanced the budget.

[00:00:15]>> Yep.

[00:00:16]>> Go ahead, Rob.

[00:00:17]>> New York, >> it's executive budget season, and I'm proud to announce that our city's budget is fully balanced. This budget isn't just about numbers on a page. It determines if our libraries get funded, if a street is safe to cross, if snow is actually shoveled after a storm, and you deserve to know exactly how we got here.

[00:00:33]We inherited a 12 billion budget deficit. We are speaking about a fiscal crisis at the scale greater than the Great Recession. Was the Great Recession. Great recession. Many said the only way out of this was slashing services and passing an austerity budget. We rejected that. After months of painstaking work, that deficit is now zero. Our city is now on firm financial ground. We achieved this in two major ways. Increasing revenue and support from Albany and cutting waste and finding savings here in New York City.

[00:01:00]Thanks to Governor Hokll, State Senate Majority Leader Andrea Stewart Cousins, Assembly Speaker Carl Hasty, and months of organizing from New Yorkers, we tax the rich.

[00:01:09]That tax alone will raise half a billion dollars per year. And that's not all.

[00:01:12]Thanks to Governor Hokll and our partners in Albany, we finally got a better deal for New York City. We're getting billions more from the state to help tackle the gap.

[00:01:19]>> You can pause it right there. You know how much they got? They got $4 billion.

[00:01:23]So Tom, per year.

[00:01:24]>> Per year. So Tom, yeah. 8 billion last two years. So when people are looking at this, they're like, "Okay, you know, how good of a spin job can you do to sell it as if everything is going right?" What is he not telling in these clips, Tom?

[00:01:38]>> Well, he's not telling you how. He's saying, "We got help from Kathy Hokll and we think it's important to shovel snow." It's a no. I want to see him go to the board and say, "This is how we balanced it." I because number one he had a surplus from Eric Adams who you know Pat and has spoken to us. So we're not out of school here. We had direct conversation with Eric Adams. We know about the surplus that he that was um that was brought in. Then he gets money from Albany. That's guess what? That's not balancing the budget. That's Brad.

[00:02:12]My daughter call us our daughters call us from college and she's spending 500 more a month. I agree to give her 400 more a month. Brad gives his daughter 400 more a month and then she meets a nicer guy and he starts paying for dinner. They didn't balance the budget.

[00:02:30]They just moved things around and other people helped. That's what's going on.

[00:02:34]And then this guy here, I quoted this study and then this guy comes to the microphone two days later about how about education in New York is not getting any results. So he didn't tell people how and what he did. He leaves out the fact that supposedly, what was the gap from Eric Adams? The exact number 36. Rob, tell me what that gap was. Because if he gets $12 billion and he claims, >> it was 469. I don't know why I think it 36 could have been.

[00:03:03]>> That's what I'm saying. Please back check me what I'm remembering what Eric Adams left him.

[00:03:09]>> Eric Adams left him. Five billion.

[00:03:12]>> Yeah, I thought it was 46.

[00:03:13]>> Okay. So five and four from the state is nine which means what did he cut and what did he change and then he got a half a billion from so let's do it five and four is nine a half billion from the millionaire tax is 9 and a half and so 12 billion deficit he only had to find 2.5 billion what slight of hand did he do with pensions I want to know what did he do with certain services he's quoting that we we have all these services where's the rest of that I want to see it cuz it shows that they actually did nothing. What percent is 9 and a half on 12?

[00:03:50]>> He says he attacked the rich.

[00:03:51]>> Yeah.

[00:03:52]>> What' you say?

[00:03:52]>> 9 and a half on 12 is what percent?

[00:03:54]>> 75% >> 75% CAME FROM SOMEBODY ELSE.

[00:03:57]>> He didn't do it. So Mr. I'm the great Marin doing all this. This is slight of hand. I'm just getting upset.

[00:04:04]>> Uh Brandon. Um, yeah. With all that aside, I I'm most mad about how long it must have taken him to do that video because I mean uh like he has different cuts and everything. I mean, how do you think it took him a couple hours to do that? Cuz he's firing these off like every day like a fully edited Tik Tok.

[00:04:20]>> Sure. It took him a couple hours.

[00:04:21]>> Yeah. So, I mean like that that pisses me off.

[00:04:23]>> It's a great video.

[00:04:24]>> It is. And he's doing all the cuts the right way where it'll go do well on TikTok. So, yeah, he is good. He's he's even better than Newsome with the spin job. Um, but I mean all the states like they run the the the state the same way that the United States runs the country, you know, like they're they spend money on things they shouldn't spend it on like the the migrant situation. They have to do police overtime because, you know, there's so much crime, so they have to um spend extra money on that.

[00:04:44]The health care situation, like that that's more expensive than it should be.

[00:04:47]So, um I mean, think about how much money New York generates. Like, just the city alone generates like 60% of the state's entire GDP. So, I mean, just the the fact that they don't have enough money for what they need to do shows that they're not managing it the right way. And I mean, should have certain requirements to run a state.

[00:05:04]>> So, this the part when I sit there and I think about, by the way, did he do the free buses?

[00:05:09]>> Did he do some of these programs that he talked about? Nobody knows, right? It's been kind of quiet on some of the programs that he was talking about. But if you want to go back to that clip of that uh uh uh right there to the left right there, watch what the cost is right now per kid that goes to school if if New York State just decided to give the money if New York City if they just decided to give the money to the parents. You know how much money would go back to the parents? This is how much education cost in New York right now. Go ahead, Rob. New York City spends roughly 37 billion dollars a year to educate about a hund 850,000 kids. That's over $42,000 per child per year.

[00:05:50]>> And the results are abysmal. Twothirds of fourth graders can't do math problem properly and almost three/4ers can't read at grade level. You don't have to be an expert in fractions to know that is bad. Let's agree that the political reality is we cannot reduce the amount of public education spending at all.

[00:06:10]Fine. What can we do, Mr. Mayor, is tell every mom in New York City that the $42,000 currently spent on that terrible education is going to be her money. Here comes Here comes some more advanced mathematics, some more long division. We are going to give her half, 21,000.

[00:06:37]That's 42,000 divided by two.

[00:06:41]Every year she will receive that as a voucher for her child to attend whatever school she wants. We are going to take the other 21,000 put it in a real account, not a fictional social security account for which her child is the sole beneficiary. If it returns a poultry 2% over the next 13 years, that child will have will graduate high school with $300,000, enough for college, trade school, or a down payment.

[00:07:10]You can pause it right there. So, money going to the family instead of the money going to the government. Where would you rather go?

[00:07:17]>> Family.

[00:07:17]>> Think about that. So, he's asking a very honest question. 42K a year per child per year. Why not just give it to the parents and let them decide what private school they want to put them into?

[00:07:27]>> Why not change it? I think he continues to go into vouchers and different structure on how to do it. That was his solution. Tom, I think you would you were about to say something.

[00:07:34]>> I just I just found it in plain sight, right? I I agree with this.

[00:07:38]>> He delayed the pension plan. Did you see that? He delayed it for years.

[00:07:41]>> Billion dollars. In other words, Eric Adams 5, Albany 4, 9, wealth tax a half, 9 and a half, 2 billion on the pensions delays funding. That's 11.5 billion.

[00:07:51]>> Did you understand what it means by the pension? He delayed the pension for 5 years or three years >> to be able to say, "Hey, we don't have to put this now." But you know why I love this? Let me tell you why I love this. Two things. One, >> you're screwed >> if you don't buy a house now.

[00:08:06]>> Because they're leaving, >> right?

[00:08:09]>> Okay. So the young guys that are sitting there saying, "Well, you know, I'm still going to wait. I'm still going to wait."

[00:08:13]They're going to leave. And do you know why I love that they're saying this thing now that 2026 they balanced the budget? You know why I love that this is a manipulation that he's using right now? How long can he use this gimmick? What's going to happen next year when he has to balance the budget? What gimmicks can he use next year?

[00:08:30]>> It's going to get more difficult.

[00:08:31]>> He doesn't have five from Eric Adams.

[00:08:34]That's the big one. So, I love this because go a year from now when he has to do this. What month and year are we in a year from now?

[00:08:41]>> It's May of 27.

[00:08:43]>> What starts in May of 27?

[00:08:45]>> People announcing that they're running for president 2028. Okay, that's the date. Just so you know that it happens between March, April to June.

[00:08:54]>> And I think the president announced he he's running for president June 13, June 14, right around his birthday. The first time he announced he's running. So next year when everybody's announcing that they're running, he has to give his budget next year this month and AOC is probably running and the people that they're going to compare AOC to is who?

[00:09:11]To him >> and they're going to say similar policies. Is that how you want someone to run America? So this hurts the socialist candidates in 2027 when they announced they're running. Brad Lee, >> you know, I don't I don't really have a strong opinion >> on this one. on this one because again when you when you're spending $42,000 per child and the uh you know results are terrible, it just it just screams to me that there's there's some sort of corruption going on. I don't trust politicians. I don't trust this guy. So I think it'd be best if I reserve my opinion. 42,000 for a kid. They should be coming out of school with a with a SAS company.

[00:09:52]>> Like how where's that money going? You think it's education? No. Let's check out the vendors. Let's go look at let's let's start auditing where that money's going. Is there some daycarees happening? What's going on with that?

[00:10:03]>> Mhm.

[00:10:04]>> Yeah. It's a And by the way, you you know you know what the budget is for New York City, Rob? Can you type in New York City's budget? Annual budget. You know what the number is?

[00:10:11]>> The city. Oh man, >> it's $120ome billion. Look at that.

[00:10:15]$124.7 billion is the budget that they have.

[00:10:21]$124.7 billion. They're doing everything in New York City with that number. Okay.

[00:10:25]So, it's it's it's pretty wild. Again, for simple, this answers a few different questions. People who leave New York City will be coming to places like this.

[00:10:35]>> Yeah.

[00:10:35]>> And they'll be going to places like Tennessee. And whatever is going to happen, like right now, one guy just bought a house in our community. You know where he's moving here from?

[00:10:43]Canada.

[00:10:44]>> Okay. Very successful business guy. One of our clients. We helped him out.

[00:10:47]Everybody was involved in helping get this property.

[00:10:51]And if you walk around the community, you're seeing people from Canada, New York, DC, Chicago, all over the place that they're moving down here. And it's not slowing down anytime soon. You you notice with everything that's going on with these guys visiting China and who the president is picking up to take with them, look at the way he thinks on the amount of power he wants to bring to China to sit down in the negotiating table. Why would you bring Musk? Why would you bring Tim Cook? Why would you bring Jensen Hang? Why would you bring all these guys? Why would you take all these guys to go? Maybe this whole thing is about sequencing and decision- making that's going to lead to the end of being what he can get with Iran and hey, give and take and he knows the leverage that he has. All of this comes down to one thing and that is if you want to win in life, you have to know your next 5, 10, 15 moves. So once year we host a conference called the vault conference.

[00:11:45]I want you to watch this video. It'll give you a little bit details about them. We'd love to see you at the event.

[00:11:49]We do this every year. This is the Super Bowl. We're expecting 12,000 people this year at the Vault Conference. Go ahead, Rob. So, the sequence in which decisions you make in life matter. Let me explain to you what I mean by this. If you and I were to play chess, do you know how many first moves you can make playing chess?

[00:12:05]Only 20. You have 20 different ways of making a first move. You know, the second move, 400 different type of moves. Third move is 5,362 different ways. But you know what?

[00:12:15]fourth move is you have 319 billion different ways to make the first four moves in chess. So let alone life. So what does this mean? Do I start the business for? Do I do I save the money?

[00:12:27]Do I get married and have the kids and travel? What everything is about sequencing? This is why at the vault conference we talk about making your next five moves. Move number one, master knowing yourself. Move number two, the ability to reason and make better decisions. Number three, putting your team together. Number four, how to scale. Number five, power plays when it becomes nasty and competitive. So, if you're somebody that wants to take your life and your business to the next level, once a year we host a conference called the Vault Conference. This year we're doing it at MGM Grand Arena, Las Vegas. 12,000 people from 60 plus countries will be attending from August 31st to September 3rd. If you haven't yet registered, click on a link above or below. Get registered. I look forward to seeing you there.

[00:13:07]>> There you go. So, Vault Conference, go to vault 2026.com. again. Vault2026.com.

[00:13:13]Get your tickets. Come down to the event. It'll be some of the be I believe we have the best business community in the world. I really believe that. And I'll tell you based on what it's not just money. We talk money, values, and principles, how to raise your family, faith, you know, raising your net worth.

[00:13:30]Everybody, you're you're in a room with 12,000 different people that look at life similarly to the way you do. So, if you haven't yet registered, click on the link below. Go to vault2026.com.

[00:13:39]Register. We look forward to seeing you there. If you enjoyed this video, you want to watch more videos like this, click here. And if you want to watch the entire podcast, click here.