NYC Had a $12 Billion Deficit — New Mayor Just Made It $0 Without Cutting a Single Service

Added: 2026-05-21

[00:00:00]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.

[00:00:13]We inherited a $12 billion budget deficit. Many said the only way out of this was slashing services and passing an austerity budget. We rejected that.

[00:00:21]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.

[00:00:36]Shout out to Mob Daddy, but more than anything respect to Mob Daddy because once you're in the office, now you got to show and prove. Once you're in the seat, you could have got used that, you know, all the people behind you to come in and make excuses or change your policies or, you know, kowtow to, you know, Albany and not do what you wanted, not fight for what you wanted, but the entire time along the way he's been fighting.