The mayor of Chicago warns against the financial crisis while New York debate socialist policies

The mayor of Chicago, Brandon Johnson, warns that finances in the third most populous city in the country have “reached a point of no return”.

The mayor said this week that the City will have to take action to deal with imminent budget deficits and that the key systems that Chicago provides, including education, housing, health care and transport, are “terribly sub-financed”.

At eight hundred miles to the east, there are concerns in the most populous city in the country only if the democratic socialist Zohran Mamdani won the election in November as the next mayor of New York, the city could go to a budgetary abyss similar to the crisis half a century ago, when it is close to bankruptcy.

The Chicago platform warns that “Halloween arrives early” while the city faces gaps

Democratic socialist Zohran Mamdani, the candidate of the mayor of the Democratic Party in New York, talks to journalists on August 7, 2025. (AP photo / yuki iwamura)

The outgoing mayor Eric Adams, who abandoned the race race in 2025 for the appointment of the mayor of the New York Democratic Party and who presents himself to his re -election as an independent, concluded an agreement with the municipal council with a budget of around 116 billion dollars for the financial year 2026.

“There are no perfect budgets. But we have gone a long way, and it is quite close,” said the president of the municipal council, Adrienne Adams, at a press conference announcing the agreement at the end of June.

Cuomo Flips Scipt on Mamdani in New York City Mayoral Race

But Mamdani, 33, who is the favorite of survey in Adams, the former governor of the state of New York Andrew Cuomo, and two other contenders in the general elections of November, takes place on an expensive platform to combat accessibility and inequality in one of the most expensive cities in the country.

Mamdani drew national attention at the end of June after dominating Cuomo and nine other candidates of the primary of the Democratic Party, when he took a big step to become the first Muslim mayor and first millennium.

The former governor of New York and independent candidate for the mayor of New York, Andrew Cuomo, attended the funeral of the NyPD officer Didarul Islam in Parkchester Jame Masjid on July 31, 2025 in the Parkchester district of the Bronx district in New York. (Michael M. Santiago / Getty Images)

Mamdani, an assembly of state of state in Ugandan from the New York borough, of Queens, proposes to eliminate the prices to set up the vast bus system of New York, making Cuny (City University of New York) “without school fees”, freeze rents on municipal housing, “City Childcare” for children up to 5 years and municipal.

We are afraid that significant expenses increase to pay Mamdani’s proposals, as well as the possibility of income deficits, could break the New York budget.

And at the center of Mamdani’s proposals to pay its expensive plans is a “millionaire tax”, which, according to criticism, will stipulate the ultra-rich residents of New York to flee.

The agenda of Mamdani gave the Republicans a lot of fodder to use to be in an offense, as they highlight its “socialist” policies and try to anchor it to the Democrats faced with stimulating reelections next year. President Donald Trump went further, accusing Mamdani of being a “communist”.

And the rivals of Mamdani during the election of the November mayor also aim at him.

Adams said Mamdani made “false promises” that will harm New Yorkers at low income. And the mayor argues that Mamdani’s proposal to set up supermarkets managed by the government “will devastate local bodegas and local stores”.

New York mayor Eric Adams officially launches his independent re -election offer on June 26, 2025 in New York. (AP)

Cuomo Friday took social networks To say that “Chicago is proof that incompetent leadership can transform a deep city into a half -cooked waste”.

One day earlier, as he proposed his own plan to fight affordability in New York, Cuomo accused that Mandani “proposes a theory of socialism which has never worked anywhere”.

“What is the best answer to affordability? This is commercial development. It is jobs. It is jobs. It is economic growth. It is not anti-business socialism,” said Cuomo asking him and answering his own question.

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By violating, Mamdani’s campaign spokesperson Dora Pekec said that “trusting Andrew Cuomo to combat New York’s affordability crisis is the equivalent of the task of an incendiary fire with a fire – he created this crisis.”

“Trusting Andrew Cuomo to tackle New York’s affordability crisis is the equivalent of trying an incendiary fire with a fire – he created this crisis,” said Mamdani spokesperson Dora Pekec in a statement.