NYC Mayor Mamdani Warns the American Dream Is Slipping Away

New York City Mayor Zohran Mamdani says the American Dream should feel achievable—not like a long-shot lottery ticket.

Speaking on Theo Von’s This Past Weekend podcast, Mamdani said many Americans now feel they have a better chance of getting rich through a lottery jackpot than through their own hard work.

“What does that say about the country that we live in?” he asked.

Mamdani argued that democracy can lose its meaning when people don't see a path to a better life. He compared the situation to former New York City Mayor Fiorello La Guardia’s warning during the rise of fascism in Europe: people can become frustrated with democracy when they are struggling simply to get by.

Mamdani’s focus: Making everyday life affordable

The mayor said his administration is trying to make basic necessities more affordable, including:

• Housing
• Child care
• Groceries
• Family and cultural activities

He said even smaller programs can improve quality of life, such as offering free child care for an evening so parents can go out or providing free opera tickets.

Mamdani also pointed to New York’s huge concentration of wealth. In his view, the problem isn't that the city lacks opportunity—it’s that too much of that opportunity and wealth has become concentrated among a smaller group.

His push for a surcharge on luxury, non-primary residences has faced legal challenges. A judge recently rejected the city's initial rollout of its pied-à-terre tax, requiring officials to restart the process.

Mamdani said tapping into New York’s wealth is essential if the city wants to remain affordable for middle-class residents.

“The city is becoming a museum,” he said, describing a place where middle-class families may be able to visit but increasingly struggle to afford living there.

Is the American Dream still alive?

Mamdani said the dream still exists, but for many people it now feels dependent on getting unusually lucky.

He also acknowledged that he considers himself fortunate. During a Fourth of July interview with CNN, he said he was living “one” version of the American Dream, pointing to the opportunity, freedom and self-determination the country promises.

His comments come as rising costs have put traditional markers of the American Dream—like owning a home, having a car and raising a family—further out of reach for many Americans.

The concern isn't limited to Mamdani. JPMorgan CEO Jamie Dimon has also warned that the American Dream is slipping away for too many people and future generations. Ford CEO Jim Farley has similarly called skilled trades a backbone of American manufacturing and the American Dream.

For Mamdani, the bigger question is whether ordinary Americans can still build a better life through opportunity and hard work—or whether success increasingly depends on simply getting lucky.