Former Treasury Secretary Jack Lew: Mamdani's policies are not good for New York

Political Landscape & Policy Concerns - Democratic socialist Zoran Mdani's nomination for New York City mayor raises anxiety on Wall Street and within the Democratic party [1] - Concerns exist that Mdani's policies may not be beneficial for New York City [2] - Policies satisfying populist sentiment may lack practical effectiveness [3] - New York City's policies require approval from the state legislature or governor, ensuring centrist voices influence tax and spending [4] - The Democratic Party benefits from building the center, appealing to both center-left and center-right [4] - Jack Lou's explicit criticism of Mdani's policies highlights divisions within the Democratic party [6][7] - Potential anti-Semitic and anti-capitalist sentiments within the Democratic party are noted [8] New York City Budget & Financial Considerations - New York City's budget is approximately $110 billion to $115 billion [9] - Healthcare, fringe benefits, and pensions account for about $25 billion of the $115 billion budget [10] - Education is a significant line item in the budget [11] - Maximizing revenues to deliver services is crucial for the next mayor [11] - Antagonizing taxpayers could lead to their departure, impacting revenue [11][12]