Posted on: July 24, 2025 04:56 PM

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NYC debt ceiling continue to rise with benefits

The race for NYC mayor is all about the budget on who gets it to prosper with taxpayer funds. Currently, the debt ceiling for NYC is at $140 billion with $95 billion debt so another $45 billion to make the city officially bankrupt. The current normal span is $2 billion per year. The front runner from the Democrat party, Zohran Mamdani who is a socialist will break that $2 billion to an easy $10 billion if he wins and run the city for four years according to the moderate Democratic party which is now facing a crunch in the campaign budget compared to the Republican which has a healthy cash availability. For this main reason, Hakeem Jeffries, House Minority Leader and Leader of the House Democratic Caucus since 2023 refused to endorse Mamdani.

Meanwhile, the GOP contender, Curtis Sliwa finally made the time to sit down with NYC businesses and some of the labor unions.

As of today, socialists are leading the votes in NYC over moderates in NYC giving the candidate Andrew Cuomo and the current Mayor some stress. A recent poll outlined the following.

58% of liberals have an unfavored view of capitalism compared to a 71% favored view of socialism.

Moderate voters have a 57% unfavored view of socialism and 54% favored view of capitalism.

Many insiders with the Republican party say if Mamdani wins the race, the Democratic Party will be split into two to see who will raise the most funds to break away within each other.

This is a wait and watch.