Understanding The ‘Financial Tsunami’ Big Apple Is Preparing For

 

Days after predicting the migrant crisis “will destroy New York City”, New York City Mayor Eric Adams said the influx of tens of thousands of migrants will bring a "financial tsunami" as departments across the board are forced to slash budgets to accommodate the new arrivals.

Overtime for NYPD cops will be slashed — even as police struggle to gain control of crime that is still higher than before the pandemic. Adams said it was his job as mayor, to be honest and transparent with New Yorkers about the reality of the crisis they are facing.

“We are about to experience a financial … tsunami that I don’t think the city has ever experienced,” Adams said. “Every service in this city is going to be impacted from child service to our seniors to housing. Everything will be impacted.”

Mayor Eric Adams’ budget director, Jacques Jiha, has instructed the city’s four uniformed agencies — police, fire, sanitation, and corrections — to curtail their overtime expenditures.

In a memo dispatched to city agencies, Jiha stated his intent to issue a directive for the implementation of an overtime reduction initiative applicable to the NYPD, FDNY, DOC, and DSNY.