Bessent says New York can ‘drop dead’ if it elects Mamdani and ever needs a bailout

Treasury Secretary Soctt Bessent attends a September 11th observance event in the courtyard of the Pentagon September 11, 2025 in Arlington, Virginia. (Credit: Win McNamee—Getty Images)

• Treasury Secretary Scott Bessent warned that Washington will not bail out New York City if mayoral front-runner Zohran Mamdani enacts his progressive agenda of higher taxes on the wealthiest, free childcare, and city-run grocery stores. Comparing the situation to Gerald Ford’s 1970s standoff with NYC, Bessent argued Mamdani’s policies would drive out wealth and businesses. Trump echoed the threat, branding Mamdani a “communist” but conceding his victory looks increasingly likely.

The Treasury Secretary has warned New Yorkers they’re on their own if they elect Zohran Mamdani for mayor, an outcome looking increasingly likely despite the fury of the White House.