Washington: In an unusually blunt statement, U.S. Treasury Secretary Scott Bessent declared on Wednesday that the federal government would refuse any bailout to New York City if Democratic mayoral candidate Zohran Mamdani’s ambitious plans are implemented. Speaking to Fox Business Network, Bessent drew a striking parallel to former President Gerald Ford’s infamous 1975 stance, telling reporters that under such circumstances, the city would be told to “drop dead.” While Ford never actually used the phrase, it has long symbolized his decision to withhold federal aid during New York’s fiscal crisis.

Bessent labeled Mamdani a “socialist protégé” of Senator Elizabeth Warren and criticized his progressive platform, which proposes rent freezes, free city buses, city-run grocery stores, and com

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