Bessent says that New York can “fall dead” if he elects Mamdani and needs bailout
The secretary of the Treasury warned the New Yorkers that they are alone if they elect Zohran Mamdani for the mayor, a result which seems more and more likely despite the fury of the White House.
Mamdani, a left -wing democrat who was described as “communist” by the oval office, won the primaries of Democrat mayor from New York with politicians such as free childcare for all and grocery stores belonging to the city to reduce prices. He also undertook to build 200,000 affordable dwellings and increase taxes on the richest New Yorkers and the largest companies.
Bessent, who founded a world hedge fund in New York, has promised that if the Big Apple finds itself in a budgetary obligation because of these policies, the government will refuse to help.
“I guarantee you – and there is not many things in the life that is safe – that New York will come to the federal government for bailout if Mandami’s plans are implemented,” Bessent at Fox Business told. When asked if this bailout would be provided, he referred to a legendary New York Daily News title from the 1970s: “It will be the same thing that Gerald Ford said: Drop Dead.”
Although the declaration of Bessent is not entirely true (President Ford has never said that the words “fall dead”), it echoes a situation in which the capital of capitalism of the White House and America fall. Ford said he would refuse to help in New York if it went bankrupt, although his difficult act of love was somehow lived because he ended up registering on loans that were reimbursed with interest.
Bessent – whether it is aware of the Tour of Ford or not – has been determined to conduct his warning at home: “You cannot adopt policies like this and expect to be bailed out.”
He added: “All those who have stayed now want to leave. All the high wages, all the companies … If we have returned in recent years, we have seen the greatest transfer of wealth in the American history of Manhattan to the County of Palm Beach. Mamdani could be the best thing for real estate in Florida.”
According to a August study of the non -partisan reflection group, the Citizens Budget Commission (CBC), the New York share of the country’s millionaire increased from 12.7% to 8.7%, which represents $ 13 billion in income tax and the city revenue with them. Conversely, the number of millionaires in Florida increased by 2.8 percentage points.
‘Good money after bad’
Bessent is not the only one to take advantage of the treasure power against New Yorkers – Trump also made similar threats.
After Kathy Hochul, the governor of New York, approved Mamdani, Trump posted on his social media network, Truth Social, that it was a “rather shocking development, and very bad for New York”. He added: “How can such a thing happen? Washington will close this situation very closely. No reason to send a lot of money after bad!”
That said, the oval office is clearly preparing for the reality to have Mamdani direct one of the most powerful metropolises in America. “It seems that he will win,” President Trump told Fox and friends last week.
“I call her my little communist,” added Trump. “It’s my little communist mayor, but you know, he has to come to Washington for money, a lot of money.”
Mamdani identifies his political inclination as a democratic socialist. While the definitions of democratic socialism vary, it revolves around the idea of a democracy in which the people and the workers control the economy and the government, and that no group dominates the others.
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