LOOK TO THE EXPERTS: Mayor Adams defended his budget cuts, claiming the fiscal experts are on his side — but count actual wonks underwhelmed. “We had a $7 billion hole in our budget,” Adams said at a press conference celebrating the funding for libraries Monday. “This is smart decision(-making). Any other fiscal analysis would tell us how brilliant (Speaker Adrienne Adams) and I were.” Later, he bragged about the city’s $8.2 billion in reserves. “That’s what you call smart fiscal management,” he said. “Any financial expert would say — oh wait, they did say that. The bond raters. That I’m doing a good job.” Bond rating agencies have had a positive outlook for the city, as the mayor incessantly reminds us in speeches. But the financial experts at the Citizens Budget Commission, a watchdog group that typically advocates for saving more, said Adams did not go far enough. Adams’ savings are "wholly insufficient to protect New Yorkers from massive cuts during a recession,” the CBC wrote Monday, giving the budget a 0 out of 3 on its fiscal integrity and stability checklist and noting that, by one measure, the city ran a $1.1 billion deficit last year. New York City Comptroller Brad Lander, who’s considering running against Adams, likewise criticized the mayor’s fiscal management, criticizing the budget in a wide-ranging statement for “fail(ing) to provide the long-term fiscal responsibility, transparency, or enough investments in critical services like early childhood education and CUNY that New York City’s future demands.” — Jeff Coltin SOCIAL BOOST: Tech lobbyists believe a Supreme Court ruling could have major implications for how New York and other states are trying to regulate social media. The court ruled today that Florida and Texas laws aimed at regulating social media content potentially runs afoul of free speech protections. Chamber of Progress, a consortium of social media companies and tech firms, cheered the ruling — and its potential impact for New York’s new law meant to regulate content online that kids see. “This court plainly recognizes that social media curation – including algorithmic curation – is protected speech,” Chamber of Progress Legal Director Jess Miers said. “Today’s decision means that the government will have a very high bar to clear in order to abridge the speech rights of online platforms and users.” Some of the largest tech firms in the country are part of the industry group, including Meta, Amazon and Apple. Hochul and New York lawmakers last month agreed to legislation that restricts child users from experiencing content in social media feeds that are generated by an algorithm. The measure is meant to address critics’ concerns that curated content based on a user’s online interactions has been harmful for children’s mental health. Hochul has said she expects the law to withstand legal challenges expected from social media firms. — Nick Reisman
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