Politics / The Mamdani Beat / Mamdani Goes From a Winter Storm to a Fiscal One The mayor publicizes a $12 billion hole in New York’s budget over the next two years—and draws some political battle lines. They are measured to the tune of more than $7 billion beyond what he published.”“This is not just bad governance,” Mamdani continued. “In fiscal year 2022 alone, the city sent $68.8 billion to Albany and got back $47.6 billion,” Mamdani said. And though the magnitude of the city’s fiscal difficulties may have come as a surprise to him, it shouldn’t have. In the weeks to come, we’ll find out whether here, too, City Hall has a plan in place to ride out the storm.