Former Obama Treasury Secretary Jack Lew is sounding the alarm that New York City could spiral if socialist mayoral candidate Zohran Mamdani wins in November. In a blunt interview with CNBC, Lew, who also served as Biden’s ambassador to Israel, said Mamdani’s far-left policies would hurt the city he’s called home for decades.

“The policies he’s outlined are not policies that are good for New York,” Lew said, warning that Mamdani’s tax-heavy, redistribution-focused agenda would fail the basic test of whether it actually works. “I worry deeply about a city I call home.”

Mamdani, a 33-year-old democratic socialist state assemblyman from Queens, has proposed raising corporate taxes and slapping an additional 2% tax on New Yorkers earning over $1 million per year to fund his “Trump-proof” sanctuary city vision. He’s also suggested shifting the tax burden onto “richer and whiter neighborhoods,” sparking controversy even within his own party.

In a recent interview, Mamdani defended his plans, saying critics like rapper 50 Cent were overreacting and that the wealthy would hardly notice the hit, calling it “a rounding error.” But Lew, reflecting on his years in government, pushed back against populist promises that ignore economic reality. “Populist sentiment doesn’t always go through the filter of ‘Do they work?’ I don’t think they work, and I think that’s a problem,” Lew said.

Mamdani’s plans include radical proposals like city-run grocery stores, defunding the NYPD, and establishing safe injection sites, which he argues will make the city more equitable. Critics, however, fear these ideas could drive businesses and taxpayers out of the city, draining the tax base and hollowing out services for working families.

Lew noted that while New York City’s mayor wields significant influence, many of Mamdani’s proposals would require approval from the state legislature and governor, who may resist such sweeping moves. He argued that building policy from the political center out is what stabilizes cities, cautioning that the “extremes” of either party can polarize and damage governance.

These comments come as Mamdani faces growing pushback from moderate Democrats concerned about his electability and the impact his policies could have on the fragile post-pandemic recovery in the nation’s largest city. Some have warned that Mamdani’s approach risks turning New York into a testing ground for unproven socialist ideas, potentially endangering public safety and economic stability.

President Trump has already weighed in, labeling Mamdani a “100% Communist Lunatic” and vowing to withhold federal funds from New York if Mamdani’s agenda goes too far. The former president has framed the NYC mayoral race as a frontline battle in the broader fight against radical left policies he says are destroying American cities.

With the election approaching, Mamdani’s vision for New York is rapidly becoming a flashpoint in the city’s political debate, pitting a bold experiment in progressive governance against fears of a financial and social collapse that could ripple across the nation’s urban centers.

Whether Mamdani can overcome establishment pushback and convince voters that his radical blueprint will fix rather than fracture New York remains to be seen, but the stakes are high, and even Democrats from Obama’s inner circle are urging caution before taking the leap.