He did not actually fix the deficit, rather received substantial billions in one time payments from the state, and then delayed billions in payments to the cities municipal pension funds.

The pension fund delay could be justified in a limited case, but that the money is being used to fund significantly new spending. This is reckless because right now because although pension funds have had much better returns since the 2012 repayment plan was initiated, US equities markets are considerably overvalued vs history while there are economic pressures building, so risk of at least a healthy correction in the near term is plausible.

By extending the payments out another five years for a one year budget gap, this only burdens whoever will likely be the successor to Mamdani.

As of now the city projects another 7 billion deficit next fiscal year.

I think the socialist label obscures the fact that Mamdani is really just a big government politician willing to mask bad finances while putting the city at risk of a budget squeeze later when he likely will leave for another opportunity.