Progressive Politics

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Mamdani balanced the NYC budget (lemmy.zip)

submitted 6 days ago by favoredponcho@lemmy.zip to c/progressivepolitics@lemmy.world

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[–] Brainsploosh@lemmy.world 2 points 3 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?