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Mamdani balanced the NYC budget
(thelemmy.club)
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this post was submitted on 12 May 2026
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Except with most debt you're making incremental payments toward it. This is skipping one of your scheduled payments and then claiming that your budget is balanced.
But... it is?
Budgeting is a cash flow management tool. Deferring payment is a cash flow positive action.
Besides the budget you also have a balance sheet, where debt is a liability, that is separately balanced against assets. It's not very clear what that means for governments though, if debts exceed assets, who will reclaim a government?