Mamdani faces NYC budget crisis

The fiscal crisis has sparked a heated debate over city spending and the impact of recent tax policies on the wealthy.

Citadel CEO Ken Griffin is set to meet with the Governor of New York to discuss the city's future direction following a public spat with the Mayor.

Mamdani has proposed a series of cost-cutting measures, including reductions in some social services, to bridge the gap.

The situation is complicated by the ongoing foreclosure crisis and the rising costs of housing in the five boroughs.