Treasury Secretary Scott Bessent warned that Washington will not bail out New York City if mayoral frontrunner 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.

Mamdani, a left-leaning Democrat who has been branded a “communist” by the Oval Office, won the democratic NYC mayoral primaries w

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