Mamdani’s deficit math is nothing short of a cheap magic trick

In office less than two months, Mayor Mamdani is already taking Gotham back to the bad old days of Funny Money.

In a move reminiscent of the 1970s fiscal crisis, Mamdani declared last week that the city’s projected deficit of $12 billion over the next 18 months had fallen to $7 billion.

Do you believe in magic?

With a straight face, the mayor said he and the city comptroller agreed on a new economic forecast that included likely tax revenue from Wall Street bonuses, tapping city rainy-day reserves and what he oddly labeled an “aggressive posture on savings.”

So then, he doesn’t need to raise taxes, right?

Not on your life. He said he still wants the state to let him hike levies on high earners and corporations, saying it will make the city more “affordable.”

He didn’t need to say for whom. That’s because “affordable” is Socialism speak for “freebies for me, but not for thee.”