The Secretary of the Treasury, Scott Bessent, said on Wednesday that he would not be providing a bailout to New York City if it elects Zohran Mamdani and his socialist economic plans are implemented.
In an interview with FOX Business' Maria Bartiromo, Bessent said, "I guarantee you, and there're not a lot of things in life that are sure, but New York City will be coming to the federal government for a bailout if Mamdani’s plans are implemented."
"And are you going to give them that bailout?" asked Bartiromo.
"It will be the same thing that Gerald Ford said. Drop dead," Bessent replied.
🚨 JUST IN: Treasury Secretary Scott Bessent says if Zohran Mamdani carries out his socialist plans as mayor, NYC will be BEGGING for a federal bailout - and that he WON'T give it to them.
— Eric Daugherty (@EricLDaugh) September 24, 2025
"I guarantee you, and there are not lot of things in life that are sure, that New York… pic.twitter.com/4K93ATNlpU
"You can’t enact policies like this and expect to be bailed out," he continued. "All the high earners, all the businesses. If you look back over the past five years, we’ve already seen the greatest transfer of wealth in U.S. history from Manhattan County to Palm Beach County."
Zohran Mamdani has promised New Yorkers a city made more affordable to them if he wins the mayoral race. However, his economic plans run counter to those promises, as is common among socialists and their policies. At the centerpiece of his policies is a widespread rent freezing plan that includes a four-year freeze on rent increases in nearly 1 million rent-stabilized housing units. These plans include the city government commandeering these units if the landlord fails to properly address the concerns of their tenant. The term 'properly' is decided by Mamdani.