The Trump administration will not bail out New York City in any financial crisis if Democratic mayoral candidate Zohran Mamdani follows through with his plans , Treasury Secretary Scott Bessent said Wednesday.

“I guarantee you — and there are not a lot of things in life that are sure — that New York City will be coming to the federal government for a bailout if the Mamdani plans are implemented,” Bessent said in an interview with Fox Business Network.

Asked if he would give the city a bailout under those circumstances, Bessent said, “It will be the same thing that Gerald Ford said: ‘Drop dead.'”

“I guarantee you…that New York City will be coming to the federal government for a bailout if the Mamdani plans are implemented,” Treasury Secretary Bessent said Wednesday. REUTERS

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