Mamdani says NYC must hike taxes on rich to fill $12 billion deficit

The prior mayoral administration has left us with a12 billion dollar fiscal deficit. And this is at a scale that's actually greater than what we saw here in New York City during the great recession. And it's something that is attributable to gross fiscal mismanagement, to a refusal to actually budget honestly and be direct with New Yorkers.And that's what we're going to actually do today. >> Okay. So the big question is assuming that that is the hole, how do you fix the hole.>> Well, I think the first way i ...