Chicago mayor warns of financial crisis, New York City debates socialist policy

Mayor of Chicago Brandon Johnson warned that financial situations in cities with large populations in the U.S. have “returned to no returns.”

The mayor said this week that the city will need to take steps to cope with the looming budget shortage, with key systems Chicago providing, including education, housing, health care and transportation, “underfunded.”

Eight hundred miles east, the most populous city in the United States has some concerns that Democratic socialist Zohran Mamdani won the election in November New York City The next mayor, the city could head to the financial abyss of the crisis half a century ago, when it was close to bankruptcy.

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Current Mayor Eric Adams, He quits the 2025 competition for New York City’s Democratic mayor nomination and runs for re-election as an independent campaign, reaching a deal with the city council on a budget of about $116 billion in 2026.

“There is no perfect budget,” City Council Speaker Adrienne Adams said in a press conference announcing the deal in late June.

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But the 33-year-old Mamdani is the leader in the voting for former New York State government Adams. Andrew Cuomoand two other competitors in the November election, are running on an expensive platform to address affordability and inequality in one of the most expensive cities in the country.

Mamdani attracted national attention in late June Democratic Party Mainly, when he took a big step towards becoming the first Muslim and the first millennial mayor.

Mamdani, a Ugandan-born state assemblyman from the New York City borough of Queens, is proposing to eliminate fares to ride New York City’s vast bus system, making CUNY (City University of New York) “tuition-free,” freezing rents on municipal housing, offering “free childrencare” for children up to age 5, and setting up government-run grocery stores.

There are concerns that huge spending increases the advice to pay Mamdani, and the possibility of insufficient income, could put pressure on the City’s budget.

At the center of Mamdani’s proposal to pay its expensive plan is “a millionaire tax,” critics say it will spur super-rich New York City residents to flee.

Mamdani’s agenda provides Republicans with a lot of feed to attack as they focus on his “socialist” policies and try to anchor him to Democrats facing a challenging re-choice next year. president Donald Trump Go further, accusing Mamdani of being a “communist”.

Mamdani’s rivals in the November mayoral election also targeted him.

Adams said Mamdani is making “false promises” that will hurt low-income New Yorkers. The mayor believes that Mamdani’s proposal to establish a government-run supermarket will “destroy local Bodegas and local stores.”

Cuomo proposed his own plan to address New York City’s affordability, and he said Thursday that Mandani “proposes a socialist theory that never worked anywhere.”

Asked and answered his own question, Cuomo said: “What’s the best affordability answer is business development. It’s opportunity. It’s work. It’s not economic growth. It’s not anti-enterprise socialism.”

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Mamdani campaign spokesman Dora Pekec backfires, claiming: “Trust on Andrew Cuomo to resolve the affordability crisis in New York, the equivalent of arson’s mission is to break out of a fire – he caused the crisis.”

“Trust on Andrew Cuomo to resolve the affordability crisis in New York, the amount of arsonist’s mission is to break out of a fire – he caused the crisis,” Mamdani spokesman Dora Pekec said in a statement.