00:00I want to speak directly to New Yorkers who have for too long been missed.
00:05Misled and misinformed about the true state of our city's finances.
00:10I will be blunt. New York City is facing a serious fiscal.
00:15There is a massive fiscal deficit in our city's budget to the tune of...
00:20...of at least $12 billion.
00:23We did not arrive at this place by...
00:25...of an accident. This crisis has a name. And a chief architect.
00:30In the words of the Jackson 5, it's as easy as ABC.
00:34This is the Adam...
00:35...of the New York Times budget crisis.
00:38In 2025, under the banner of what he...
00:40...called the best budget ever, former mayor Eric Adams handed the next administration...
00:45...a poisoned chalice. He systematically under-budgeted services that New York...
00:50...workers rely on every single day. Rental assistance, shelter, and special...
00:55...education. While quietly leaving behind enormous gaps for the future.
01:00...and knowing his time in office was likely coming to an end...
01:03...Mayor Adams chose political...
01:05...for self-preservation over fiscal responsibility.
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