November 13, 2025
New York Bleeds Out
By William Levin
The nightmare descent of New York City under Mamdani rule has begun. Defunding the police, “free” services, and antisemitism are the tip of the spear. Staffing, policies, and mandates will issue from the mayor daily, implemented by an administration of hardcore socialists.
The outlook is far worse when measured in dollars and cents. Spending will soar from already unsustainable levels, even as the tax base exits. When the top 1% leave, along with major financial firms, they never return. The glory of New York will fade. The city will not even be able to sustainably pay its bills for basic services.
As they used to say in grade school, show your work.
It is typically claimed that New York contributes far more to the federal government than it receives in federal aid. The implication is that New York is impervious to federal cut-offs and holds the financial moral high ground.
Hogwash.
New York City pays nothing to the federal government. The so-called contribution, totaling an estimated $60 billion, excluding Social Security payments, is the individual income tax dollars paid directly by NYC residents to the U.S. Treasury. None of these payments has anything to do with the city budget. The federal government will receive these revenues regardless of where people reside.
What matters is the NYC budget and the source of revenues.
more
https://www.americanthinker.com/articles/2025/11/new_york_bleeds_out.html
