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New York City Mayor Zohran Mamdani said the American Dream should be a guarantee and not a vague hope, lamenting that it\u2019s now viewed as being less attainable than winning a lottery jackpot.<\/p>\n
In an interview on Theo Von\u2019s podcast This Past Weekend<\/em>, Mamdani warned that if the American Dream is just an ideal that\u2019s out of within reach, then people may start to give up.<\/p>\n The democratic socialist compared it to legendary NYC Mayor Fiorello La Guardia\u2019s observation during the rise of fascism in Europe, saying people turned away from democracy not because they were tired of liberty, but because they were tired of being hungry.<\/p>\n \u201cSo if democracy doesn\u2019t mean the better life that it has to, it\u2019ll lose its worth. And the same thing with the American Dream: if it\u2019s something you can only see when you turn on your TV or you hear about that one guy you grew up with who made it, that doesn\u2019t mean enough,\u201d Mamdani said.<\/p>\n That\u2019s why his administration has focused on making housing, child care, and groceries more affordable, he added, calling them the \u201cbasic aspects of a good, dignified life.\u201d<\/p>\n Smaller efforts also make a big difference, Mamdani explained, pointing to free child care for a night to give parents a chance to go out or providing free tickets to the opera.<\/p>\n When asked later if he thinks the American Dream is still alive, he replied, \u201cIt feels like you have to luck out in some big way. In many ways, I feel like it\u2019s why a lot of people play the lottery. For many, it feels like their only chance. People think that they have better odds playing the lottery than making it in their own life. What does that say about the country that we live in?\u201d<\/p>\n New York City has the added dimension of having plenty of wealth while many others grapple with wages that haven\u2019t kept up with the soaring cost of living, Mamdani noted.<\/p>\n That\u2019s not due to a lack of opportunity. Instead, that opportunity is \u201cbeing consolidated,\u201d he argued. <\/p>\n While Mamdani has sought to tap some of the city\u2019s wealth with an annual surcharge on luxury, non-primary residential properties, it\u2019s run into some legal setbacks.<\/p>\n Last month, a judge threw out New York\u2019s rollout of its pied-\u00e0-terre tax, ordering the city to cancel the notices it sent to property owners\u00a0and restart the process of deciding who owes the surcharge.<\/p>\n Harnessing some of the city\u2019s wealth is key to making New York more affordable, Mamdani insisted during the podcast interview.<\/p>\n \u201cBecause right now it feels like the city is becoming a museum\u2014something a middle-class family can afford to visit once a month, maybe on the weekends. We want people to live here, and there\u2019s more than enough money for everyone to be able to,\u201d he said.<\/p>\n For his part, Mamdani has acknowledged that he is one of the lucky few. When asked on the Fourth of July if he was living the American Dream, he told CNN the \u201cI\u2019m living one of them.\u201d<\/p>\n \u201cI think the beautiful thing about today is it\u2019s a chance to celebrate that the promise of our nation is still true\u2014that promise of opportunity, of freedom, of self determination,\u201d he added. \u201cAnd to be the mayor of our city today, it\u2019s something more than i could ever ask for.\u201d<\/p>\n Mamdani\u2019s comments come as the affordability crisis has threatened some of the key hallmarks of the American Dream, such as homeownership, a car or two, and kids.<\/p>\n While U.S. households still, on average, believe it\u00a0can be achieved, their hopes are fading fast while some economists see a \u201cGreat Postponement.\u201d<\/p>\n JPMorgan CEO Jamie Dimon has also warned the American Dream is in trouble, and has committed the New York-based banking giant to a sweeping multiyear effort to expand economic opportunity across the country. <\/p>\n \u201cThe American Dream is alive, but it\u2019s slipping out of reach for too many people\u2014and for future generations,\u201d he said in March. \u201cThis slows economic growth, hurts communities, and prevents many people from getting ahead.\u201d<\/p>\n More recently, Dimon has teamed up with Ford CEO Jim Farley, who said America\u2019s skilled-trades shortfall has become too large and too varied by region and occupation.<\/p>\n \u201cSkilled trades are the backbone of our country and American manufacturing, and the backbone of the American Dream,\u201d Farley said last month.<\/p>\n<\/div>\n