Mamdani Says American Dream Now Feels Like a Lottery Win

New York City Mayor Zohran Mamdani says the American Dream should be a guarantee rather than a vague hope, warning that it is now viewed by many as less attainable than winning a lottery jackpot. In an interview on Theo Von's podcast «This Past Weekend», Mamdani said that if the promise of a better life remains out of reach, people may eventually stop believing in it altogether.

Mamdani compared the risk to an observation attributed to legendary New York City Mayor Fiorello La Guardia 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. «So if democracy doesn't mean the better life that it has to, it'll lose its worth. And the same thing with the American Dream: if it's 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't mean enough,» Mamdani said.

That concern, he added, is why his administration has focused on making housing, child care, and groceries more affordable, describing them as the «basic aspects of a good, dignified life.» He also pointed to smaller measures that can make a meaningful difference, such as offering free child care for an evening so parents can go out, or providing free tickets to the opera.

Asked later whether he believes the American Dream is still alive, Mamdani replied: «It feels like you have to luck out in some big way. In many ways, I feel like it's 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?»

Mamdani noted that New York City carries an added dimension: it holds plenty of wealth while many residents grapple with wages that have not kept pace with the soaring cost of living. He argued that the problem is not a lack of opportunity but that opportunity is «being consolidated.»

To tap some of that wealth, Mamdani has sought an annual surcharge on luxury, non-primary residential properties. The effort has run into legal setbacks. Last month, a judge threw out New York's rollout of its pied-à-terre tax, ordering the city to cancel notices sent to property owners and restart the process of deciding who owes the surcharge.

Harnessing some of the city's wealth is key to making New York more affordable, Mamdani insisted during the interview. «Because right now it feels like the city is becoming a museum—something a middle-class family can afford to visit once a month, maybe on the weekends. We want people to live here, and there's more than enough money for everyone to be able to,» he said.

Mamdani has acknowledged that he is one of the lucky few. Asked on the Fourth of July whether he was living the American Dream, he told CNN, «I'm living one of them.» He added that the day was a chance to celebrate that the nation's promise of opportunity, freedom, and self-determination remains true, and that serving as mayor was «something more than I could ever ask for.»

His comments arrive as an affordability crisis threatens some of the defining hallmarks of the American Dream, including homeownership, a car or two, and children. While U.S. households on average still believe the dream can be achieved, their hopes are fading, and some economists see a «Great Postponement.»

JPMorgan CEO Jamie Dimon has also warned that 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. «The American Dream is alive, but it's slipping out of reach for too many people—and for future generations,» Dimon said in March. «This slows economic growth, hurts communities, and prevents many people from getting ahead.»

More recently, Dimon has teamed up with Ford CEO Jim Farley, who said America's skilled-trades shortfall has become too large and too varied by region and occupation. «Skilled trades are the backbone of our country and American manufacturing, and the backbone of the American Dream,» Farley said last month.

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Delaney Sawyer

Society Reporter

Delaney Sawyer covers public affairs, politics, business, culture and daily news for Core Memo. The role focuses on verification, context, and clear explanations for readers.

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