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Mamdani ripped for claiming victory over capitalism after NYC’s multi-billion dollar taxpayer funded bailout

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Mamdani ripped for claiming victory over capitalism after NYC’s multi-billion dollar taxpayer funded bailout

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New York City’s mayor is again under fire after spewing outlandish claims that his socialist policies are to credit for a balanced budget in the Big Apple, just after the city received a multi-billion dollar bailout from the state.

“In January, our administration inherited a $12 billion budget deficit — a fiscal crisis greater than the Great Recession,” Mayor Zohran Mamdani said in a Tuesday post on X announcing that the debt had been cleared.

“We balanced the budget by taxing the rich and making government more efficient,” Mamdani continued. “We did not balance this budget on the backs of working people, and we never will.”

New York City Mayor Zohran Mamdani speaks during a primary-night watch party for NYC Congressional candidate Claire Valdez at 99 Scott Studio on June 23, 2026 in the East Williamsburg neighborhood of the Brooklyn borough in New York City. (Michael M. Santiago/Getty Images)

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MAMDANI ALLOCATES $500K FOR REPARATIONS TALKS AS NYC FACES $5.4B DEFICIT

But the real reason the budget it balanced is because the city was handed $1.5 billion by the state of New York in January — funded by working class taxpayers across the state — as part of a multi-year plan to bail out the fiscally-challenged city. In late May, the city received another $4 billion.

Of the combined $8 billion provided to the city’s bailout fund under former Mayor Eric Adams’ tenure and now Mamdani’s mayorship, $5 billion was directly earmarked for the city to address fiscal measures. This includes allowing city government to defer pension contributions to close the budgetary gap.

Mamdani’s claims about socialist policies producing results — and his failure to mention the massive bailouts provided by taxpayer dollars — did not fly on social media.

New York Gov. Kathy Hochul holds media availability press conference and makes an announcement on abortion rights at the office on 633 3rd Avenue. (Lev Radin/Pacific Press/LightRocket via Getty Images)

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MAMDANI ALLOCATES $500K FOR REPARATIONS TALKS AS NYC FACES $5.4B DEFICIT

“This is a lie,” independent journalist Nick Shirley said in a reply to the mayor.

“You balanced the budget by borrowing billions from the NY state government which pushed back pension payments, so you literally took money from ‘the backs of hardworking people.’ Don’t get it twisted,” he added.

Commentator and journalist Nick Sortor also flamed the mayor over the loan and his classification of the bailout.

“Are you saying New Yorkers can ‘balance their budgets’ by taking out massive credit card loans?” he asked sarcastically.

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Independent journalist Nick Shirley sat down for an interview with Riley Gaines as part of the launch of Outkick’s “The Riley Gaines Show.” (OutKick)

BROADCAST NETWORKS TOUT MAMDANI’S VICTORIES, PROCLAIM SOCIALISM IS ‘RESONATING’

“Mamdani balanced the budget by taking money from Albany, who in turn taxed Rochester and Buffalo” another social media user said. “That’s who is paying for all of Mamdani’s free crap.”

In a press conference earlier in the day, Mamdani claimed victory over capitalism.

“Throughout this process I have been reminded of the words of the Austrian economist Friedrich Hayek: ‘if socialists understood economics, they wouldn’t be socialists.’”

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A man sleeps on the E train, one of the subway lines most utilized by homeless New Yorkers for shelter, in Queens, New York, on Monday, April 7, 2025. (Victor J. Blue for The Washington Post/Getty Images)

After the Republican National Convention (RNC) posted that clip, Mamdani also faced ridicule for that.

“It always looks good at first until the chickens come home to roost,” one person replied.

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“He’ll soon ‘deliver’ bread lines instead,” said another.

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Mamdani’s office did not return Fox News Digital’s request for comment.

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After lawsuit, ICE pauses construction of Bay Area detention facility

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After lawsuit, ICE pauses construction of Bay Area detention facility

The federal government agreed to temporarily hold off on construction of a planned Immigration and Customs Enforcement facility in Northern California.

The voluntary pause until Sept. 9 comes after the California Atty. Gen. Rob Bonta and Santa Clara County officials sued the Trump administration last month to block the facility from being developed near Gilroy. The lawsuit remains ongoing.

“This pause in the construction, demolition, and development at the site of the challenged ICE facility is a significant step towards protecting our people, our communities, and our environment while the case remains ongoing,” Bonta said in a statement Monday night.

The Department of Homeland Security, which oversees ICE, didn’t immediately reply to a request for comment.

State and local officials believe the facility will be used for short-term detention of up to 150 people at a time, though ICE denied that it would be a detention center.

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Community members and advocates for immigrants swiftly opposed the project. ICE has consistently looked to increase its detention capacity in California, where eight detention centers can now hold a combined 9,000 people, though the state has long been a thorn in the agency’s side.

The halt is part of a compromise between both sides involved in the legal action. After the state and county submitted a request for the court to temporarily halt the project, a hearing was set for Oct. 7.

Now, state and federal officials jointly requested that the court move up the hearing by at least a month. The agreement also extends how much time the federal government has to respond.

A federal judge signed off on the agreement Monday night.

The lawsuit, filed in U.S. District Court in San José, alleges that the leased land is zoned exclusively for agricultural use and that the federal government violated laws requiring state and county notification, as well as procedural steps before beginning construction.

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Why Supreme Court Justices Are Asking for More Security

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Supreme Court justices are asking lawmakers on Capitol Hill to increase their 2027 budget, with most of the additional funding earmarked for security. Ann E. Marimow, a New York Times reporter, explains why the justices say these measures are necessary to protect them from rising threats.

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Trump reveals who he’s eyeing to replace Lindsey Graham

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Trump reveals who he’s eyeing to replace Lindsey Graham

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President Donald Trump teased who he may like to see as a long-term replacement for the late Sen. Lindsey Graham, R-S.C., as a special election to lock in a candidate for the seat fast approaches.

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Private and public jockeying is already underway to snag Trump’s coveted endorsement in the special election, which is slated for Aug. 11, with two lawmakers already expressing interest in launching a campaign.

And as members of the South Carolina GOP congressional delegation and beyond line up for the race, the president hinted that he may already have a favorite: Rep. Russell Fry, R-S.C.

GRAHAM ALLY RIPS ‘THIRSTY’ REPUBLICANS JOCKEYING TO REPLACE LATE SENATOR

Sen. Lindsey Graham speaks with reporters aboard Air Force One with President Donald Trump and Secretary of Commerce Howard Lutnick on the way back to Washington, D.C., on Jan. 4, 2026. (Jim Watson/AFP via Getty Images)

“I think Russell Fry, a young congressman, is outstanding, and that could happen. I could see that happening,” Trump told Newsmax on Monday night. “I think he’s a very, very talented person.”

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Trump backed Fry in his first bid for Congress in 2022, where he toppled former Rep. Tom Rice, R-S.C., in the primary. Rice was one of 10 House Republicans to vote to impeach Trump following the Jan. 6, 2021, riots on Capitol Hill.

‘THE HALLS OF THE SENATE ALREADY FEEL EMPTY’: TEARFUL THUNE HONORS LINDSEY GRAHAM AS SISTER TAKES HIS SEAT

“He took the place of somebody that was — I mean, he’s doing much better than the person that preceded him,” Trump said. “He’s been very popular in the state, so I think a name like Russell Fry is somebody you can watch out for and there are probably some others.”

Trump’s comments on Fry come after Politico reported that the lawmaker has been communicating with the White House about a run and was viewed as a top contender for the president’s stamp of approval. Fox News Digital did not immediately hear back from the White House or Fry on whether he’s being eyed for the special election.

LINDSEY GRAHAM’S SISTER APPOINTED TO SENATE AS GOP RUSHES TO PROTECT FRAGILE MAJORITY

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Rep. Russell Fry, R-S.C., arrives for a House Republican Conference caucus meeting at the Capitol Hill Club in Washington on May 13, 2026. (Bill Clark/CQ-Roll Call, Inc. via Getty Images)

In the meantime, Trump threw his support behind Graham’s sister, Sen.-designate Darline Graham, to take over the lawmaker’s seat for the remainder of his term. South Carolina Gov. Henry McMaster appointed her on Monday, and she’ll be sworn in to the role Tuesday afternoon.

Trump said that he believed Graham would be there “only on an interim basis.”

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Meanwhile, Reps. Nancy Mace, R-S.C., and Ralph Norman, R-S.C., are eyeing the race, too. Norman has gone so far as to ask Trump for his endorsement.

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Both Mace and Norman failed to clinch the GOP nomination for governor in South Carolina, which ultimately went to South Carolina Attorney General Alan Wilson, who toppled Trump-backed South Carolina Lt. Gov. Pam Evette.

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