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TokenBoomer@lemmy.world

Mamdani balanced the NYC budget (lemmy.zip)

submitted 5 days ago by favoredponcho@lemmy.zip to c/progressivepolitics@lemmy.world

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[–] Brainsploosh@lemmy.world 1 points 3 days ago (1 children)

All debt is "kicking the can down the road" in some way, having a plan for it seems better than not though.

[–] merc@sh.itjust.works 0 points 3 days ago (1 children)

Except with most debt you're making incremental payments toward it. This is skipping one of your scheduled payments and then claiming that your budget is balanced.

[–] Brainsploosh@lemmy.world 1 points 2 days ago

But... it is?

Budgeting is a cash flow management tool. Deferring payment is a cash flow positive action.

Besides the budget you also have a balance sheet, where debt is a liability, that is separately balanced against assets. It's not very clear what that means for governments though, if debts exceed assets, who will reclaim a government?