Chicago mayor warns of financial crisis as NYC debates socialist policies

The mayor of Chicago Brandon Johnson warns that financial resources in the third most populated city “have reached the point of no return.”

The mayor said this week that the city will need to take steps to deal with the shortcomings that wave on the budget and that the main systems provided by Chicago, including education, housing, health care and transportation, are “very not owned.”

Eight hundred miles to the east, there are concerns in the city most populated in the country that if the Social Democratic Socialism Zahran Mamdani wins in the elections in November as the next mayor of New York City, the city can turn to a financial abyss similar to the crisis half a century ago, when it approaches bankruptcy.

Chicago Tribune warns that “Halloween comes early” as the city faces the deficiency

Current mayor Eric Adams, who came out of the 2025 race to nominate the mayor of the Democratic Party in New York City and who is running for their re -election as dealing with the city council with a specific budget of about $ 116 billion for the fiscal year 2026.

“There are no perfect budgets. But we have come a long way, and this is approaching this,” Adrian Adams President Adrian Adams told a press conference in which he announced the deal in late June.

Cuomo turns Scipe on Mamdani in the New York City mayor’s race

But the 33 -year -old Mamadani, the candidate who is associated with Adams, former New York Governor Andrew Como, and two other competitors in the general elections in November, are working on an expensive platform to tackle the ability to withstand costs and inequality in one of the most expensive cities in the country.

Mamdani acquired national attention in late June after Komo and nine other candidates in the preliminary elections of the Democratic Party, as he took a big step towards becoming the first Muslim mayor and the first millennium.

The former New York Governor and the independent candidate for New York City, Andrew Como, attends the funeral of the Deofro Islam, Islam in Parkscetter Jami, a mosque on July 31, 2025 in the Parksters neighborhood of Burons Boro, New York City. (Michael M. Santiago/Getty Images)

Mamdani, a member of the Uganda State Council of Queens City in New York City, suggests eliminating prices for the riding of the vast bus system in New York City, making Kony (New York City University) “free of tuition fees”, freezing freezing rents on municipal housing, and providing a “free child” for children up to 5 years old, and clarifying government -run government.

There are fears that the large -to -spend increases to pay for Mamdani’s proposals, as well as the possibility of revenue, can put pressure on the budget of New York City.

In the center of Mamdani’s proposals to pay the costs of its precious plans, the “millionaire tax”, which critics say that critics say will motivate the wealthy New York City residents to flee.

The Mamdani Republican agenda gave a lot of feed to use it in the crime, because they are “socialist” policies and trying to consolidate it to the Democrats who face difficult elections next year. President Donald Trump has gone further, accusing Mamdani of “Communist”.

Mamdani’s competitors in the November mayor’s elections also aim to.

Adams said that Mamdani provides “false promises” that will harm the low -income New York residents. The mayor argues that Mamdani’s proposal to create the government -run supermarkets “Diards of Local Podiga and local stores.”

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

Komo, as suggested his own plan to tackle the ability to afford costs in New York City, said on Thursday that Mandani “proposes socialism theory that has not succeeded anywhere.”

“What is the best answer to the ability to withstand costs? It is business development. It is a job. It is an economic growth. It is not a socialist hostile socialism.”

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After the shooting, a spokesman for the Mamdani campaign, Dura Picke, claimed that “trusting Andrew Como tackled the ability to withstand costs in New York is the equivalent of the tasks of a copyal to extinguish a fire – he created this crisis.”

“Confidence in Andrew Como to address the ability to afford cost in New York is the equivalent of tasks in burning with extinguishing a fire – he created this crisis,” Mamdani, spokeswoman for Mamdani, said in a statement.