NYC Mayor Adams’ Exit Interview & America’s Affordability Crisis 12/15/25

Summary

Squawk Pod Podcast Summary – December 15, 2025

Episode Title: NYC Mayor Adams’ Exit Interview & America’s Affordability Crisis
Hosts: Andrew Ross Sorkin, Melissa Lee
Guests: NYC Mayor Eric Adams, Pollster Frank Luntz

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Overview

This episode features a wide-ranging discussion centered on two primary topics:

1. NYC Mayor Eric Adams' exit interview: As Adams prepares to leave office, he reflects on his tenure, shares concerns about mayor-elect Zoran Mamdani’s agenda, and discusses the city’s future.
2. America’s affordability crisis: Pollster Frank Luntz unpacks voter sentiment around inflation, cost-of-living pressures, and the political backlash brewing as Americans feel squeezed by the rising costs of food, fuel, and healthcare.

The episode is rich with candid insights, direct language, and thoughtful debate, moving from the hard realities of city leadership to the economic anxiety shaping national politics.

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Key Discussion Points & Notable Moments

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NYC Mayor Eric Adams’ Exit Interview

[12:49–30:41]

Transition and Future of NYC:

• Adams underscores a professional, data-driven transition to mayor-elect Mamdani:

  “Election is over. It's time to safeguard a place that we all love and that's New York.” (13:32)

• Adams reveals concerns about Mamdani’s association with the Democratic Socialists of America:

  “If he allows the agenda of the Democratic socialists of America to be the platform of this city, we're going to be in for some real problems.” (14:23)

Homeless Encampments & Public Safety

• On proposed policy changes regarding homeless encampments:

  "It's more than...a humanitarian issue, but also as a business, you don't want to walk out your business and seeing someone sleeping in a tent. ...it was a humane thing to do to get people indoors." (15:12)

• Adams fears a reversal of policy leading to quality of life degradation:

  "If he follows that [DSA] agenda, we're going to be having some real quality of life issues in our city." (16:25)

Executive Orders & Protecting Legacy:

• Responding to accusations that he's undermining Mamdani, Adams insists:

  "No, not at all. I'm protecting the legacy and protecting New Yorkers...this is what happens in government, the incoming mayor must deal with whatever was put in place by the previous mayor." (16:43)

Rising Antisemitism & City Politics:

• Adams criticizes insufficient condemnation of antisemitic attacks:

  "If the leadership of a country or city is not willing to point out when a particular group...are being harass[ed], harm[ed], threaten[ed]...that is what's troubling antisemitism." (18:32)
  “It has been normalized across the globe in general, but specifically here in New York.” (18:32)

• Urges next mayor to confront radical supporters and continue efforts against hate:

  "He must corral his supporters and send a very clear message...Don't dismantle the IRA definition [of antisemitism]. Don't dismantle my office to combat antisemitism.” (19:43)

Criminal Justice, Economic Concerns & Quality of Life:

• Warns against plans to release inmates, decriminalize prostitution, and implement ethnically-based tax policy:

  “He wants to release 3,000 inmates from Rikers Island...wants to decriminalize prostitution... You can't tax communities based on ethnicities... you can't run millionaires out of the city. 51% of our taxes [come from them]." (22:41)

Election Reflections & Political Strategy:

• On not dropping out early in favor of Cuomo:

  "I was the sitting mayor... If I would have said after the primary that I'm going to abandon right away, that would have been the same foolish thing to do...I made the right decision." (25:56)

• Blames Curtis Sliwa for undercutting the opposition to Mamdani:

  “You need to question and look at [Sliwa’s] whole strategy, and I think history is going to reveal his role.” (27:12)

Advice to the Business Community:

• Encourages business leaders to speak out if policy harms New York:

  “If the mayor is not doing what's best for the city, they need to make sure they use their abilities as leaders... to state where the mayor has gone wrong.” (28:57)

Next Steps for Adams:

• “Smoke a cigar, have fun, enjoy. ... I want to travel again. I want to write a book. I want to get my PhD. ... I'm not going away. I love this city and I'm going to make sure that nothing hurts the working class people of this city.” (30:14–30:41)

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America’s Affordability Crisis

Guest: Frank Luntz (Pollster & Political Strategist)
[32:58–42:38]

What "Affordability" Means to Americans:

• Luntz explains why Americans talk about “affordability” and not “inflation”:

  “The average American talks about affordability or cost. Can I afford the food, the fuel, the housing, the health care?” (33:42)

• Alarming stat:

  “Half of Americans now live, and I quote, paycheck to paycheck.” (33:59)
  “One third of Americans could not afford a cost, an unexpected health care cost of $5,000.” (34:28)

Costs vs. Wages:

• Luntz underscores it's not just about wages rising, but about prices:

  “Wages are important, but costs are vital. ... If your wages are up and you still can't afford the house you want, the health care you need...what good is it? So I’d say to you that costs are more important.” (35:32)

Relative Perception & Institutional Distrust:

• On how Americans judge economic health:

  “It's right now compared to the past...they look at it and how it impacts them personally, not their neighbors, not the country. ... So it is relative. But there's no absolute.” (37:08)

• Distrust of both government and private solutions:

  “Democrats keep coming back with a government solution, that's a mistake... Republicans keep coming back to an insurance based solution. And Americans hate insurance companies.” (37:37)

A Political Breaking Point:

• Deep frustration with institutions:

  “The public sees that these problems...are so significant and that neither political party has the answers for them or is willing to do it. ... They’re deciding whether or not they even want to participate in the democratic process. And that’s when you know you’ve reached the breaking point.” (37:53, 40:23)

Messaging for 2026 Elections:

• Luntz’s advice:

  “You don't want rhetoric, you want results, you want solutions. You want common sense and not politics. ... Stop blaming the other party...” (39:54)

• On potential results:

  “Democrats narrowly take the House. ... Democrats have a five point lead right now... that's enough to give them roughly a five seat majority in the House and the Senate. If they botch health care, the Senate could be up for grabs as well.” (40:42)

Ultimate advice to parties:

• “Either party could take advantage of it...but if they don’t, the public is not just decided between Republicans and Democrats. They're deciding whether or not they even want to participate in the democratic process. And that's when you know you've reached the breaking point.” (39:50)

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Noteworthy Quotes and Moments

• Eric Adams on continuity and concern:

  “If he allows the agenda of the Democratic Socialists of America to be the platform of this city, we're going to be in for some real problems.” (14:23)

• Frank Luntz on the severity of economic insecurity:

  “Half of Americans now live, and I quote, paycheck to paycheck...” (33:59)

• Frank Luntz on voter trust:

  “Democrats keep coming back with a government solution... Republicans keep coming back to an insurance based solution. And Americans hate insurance companies.” (37:37)

• Adams on his next chapter:

  “Smoke a cigar, have fun, enjoy... I'm not going away. I love this city and I'm going to make sure that nothing hurts the working class people of this city.” (30:14–30:41)

• Luntz on 2026 elections:

  “Democrats narrowly take the House... Democrats have a five-point lead right now, and that's enough...” (40:42)

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Segment Timestamps

• 12:49 – Adams begins his exit interview
• 14:02 – Reflections on meeting and transitioning with Mayor-elect Mamdani
• 15:12 – Homeless encampments and public safety concerns
• 16:43 – Executive orders and legacy protection
• 18:32 – Discussion of anti-Semitism and communal tensions
• 22:41 – Economic concerns and specific policy worries under the new mayor
• 25:56 – Adams on his election decisions and strategy
• 28:57 – Advice for business community engagement with new administration
• 30:14 – Adams' immediate post-mayoral plans
• 32:58 – Frank Luntz on affordability and American concerns
• 33:59 – Statistics on Americans living paycheck to paycheck
• 35:32 – Distinction between wages and costs
• 37:08 – How Americans perceive economic pressures
• 37:37 – Distrust of government and companies
• 39:06 – Luntz’s advice on political messaging
• 40:42 – 2026 election outlook

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Tone and Language

The conversation is candid, direct, and engaged, with Adams passionate and openly concerned, while Luntz is analytical, data-driven, and insistent on message discipline for both politicians and policymakers. Both guests avoid jargon, keep language relatable, and clearly aim to connect with everyday listeners.

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This episode is essential listening for citizens keen to understand the crossroads facing New York and the country—providing unfiltered insight into leadership transitions, political strategy, and the economic anxieties shaping voter behavior entering 2026.

Transcript

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[Andrew Ross Sorkin]

Bring in show music, please.

[Melissa Lee]

Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, New York Mayor Eric Adams gives his exit interview as he prepares to hand the reins of America's largest city and business capital to Mayor elect Zoran Mamdani.

[Eric Adams]

Many people don't know of the Democratic Socialists of America. They should read their agenda. If he follows that agenda, we're going to be having some real quality of life issues in our city.

[Melissa Lee]

Then the affordability crisis across the country is driving voters. Political strategist and pollster Frank Luntz on the pressure and the pain points for Americans.

[Frank Luntz]

The public has not just decided between Republicans and Democrats, they're deciding whether or not they even want to participate in the democratic process. And that's when you know you've reached the breaking point.

[Melissa Lee]

And trying to make sense of a weekend of tragic news from a shocking Hollywood death to the attack on an Australian beach. Hanukkah festival.

[Andrew Ross Sorkin]

I think when you see stuff like this, you have to say to yourself something else is going on here.

[Melissa Lee]

It's Monday, December 15, 2025. Squawk Pod begins right now.

[Andrew Ross Sorkin]

Stand Andrew by 3, 2, 1, up and Andrew. Good morning and welcome to Squawk Box right here on CNBC. We're live @ the NASDAQ marketsite in Times Square. I'm Andrew Sorkin along with Melissa Lee. Good morning to.

[Melissa Lee (alternate or co-host)]

You. Morning to you.

[Andrew Ross Sorkin]

Andrew. Hanging out. Becky and Joe are off today, but we got a lot going on, including this because you may have noticed there's a new CNBC logo on your screen today. It's part of our evolution. We have removed the NBC peacock to embrace a distinct new identity as part of our new brand's future. It's a small visual update as we continue to deliver the same trusted coverage around Business around markets, the economy, and so much more. And I dig it, to be honest with.

[Melissa Lee (alternate or co-host)]

You. I think very.

[Andrew Ross Sorkin]

Modern. I think it's who we.

[Melissa Lee (alternate or co-host)]

Are. It.

[Andrew Ross Sorkin]

Is. I do miss the peacock in certain ways because I grew up with the peace peacock in a long time.

[Melissa Lee (alternate or co-host)]

But.

[Andrew Ross Sorkin]

Exactly. I think it's pretty.

[Melissa Lee (alternate or co-host)]

Cool. Yeah. And it ushers in a new.

[Andrew Ross Sorkin]

Era. It is the new era with the Versant spin.

[Melissa Lee (alternate or co-host)]

Off. Then a month.

[Andrew Ross Sorkin]

Away. And here we.

[Melissa Lee (alternate or co-host)]

Go. National Economic Council Director Kevin Hassett says he'd be happy to talk to President Trump consistently if he's chosen to lead the Fed. On CBS's Face the Nation, Hassett called the president's views on the Fed strong and well founded, but stressed it is the Fed's job to be.

[Andrew Ross Sorkin]

Independent. No, he would have no weight. It's just his opinion matters if it's good, you know, if it's based on data. And then if you go to the committee and you say, well, the president made this argument and that's a really sound argument, I think. What do you think? If they reject it, then they'll vote in a different.

[Melissa Lee (alternate or co-host)]

Way. On Friday, the president told the Wall Street Journal he was leaning toward choosing Hassett or former Federal Reserve Governor Kevin Warsh to run the Fed after Jay Powell. He said Warsh was at the top of his list, though he also praised Hassett in other unnamed candidates. The president confirmed he pressed Warsh earlier last week on on whether he could count on him to lower interest rates if he has chosen to lead the Fed. President Trump also said he thinks the next Fed chair should talk with him about where to set interest rates and said he believes a year from now the federal funds rate should be 1% at.

[Andrew Ross Sorkin]

Most. That would be a huge shift. The idea of sort of not just. I mean, we've always had a situation where there's been regular conversations happening between the treasury secretary and the Fed chair. They famously have breakfast and lunches together. This has been going on for a very long time. So it's not, maybe it's not so far off to say that the administration and the Federal Reserve need to talk to each other. The question is, should you be talking to the president and how much influence is really taking place? One of the things we've never really known is what exactly gets said at those lunches and.

[Melissa Lee (alternate or co-host)]

Breakfasts.

[Andrew Ross Sorkin]

Right. And how much of the time the president has told their treasury secretary or the treasury secretary is doing it on their own, saying, this is what I, let me advocate for this position right.

[Melissa Lee (alternate or co-host)]

Now. So the question is, is this sort of an acknowledgment of what already happens, or is this actually something new that happens in terms of consulting the president as to where rates should be? We don't really know that, to your.

[Andrew Ross Sorkin]

Point. We will, we will have to see where all of this goes. Do you think both, both Kevin's are up for that? We know, we know that Kevin Hassett is his game for this, clearly, because he's just said it right. I don't know whether the others.

[Melissa Lee (alternate or co-host)]

I have not, I don't know. But I assume that they want to serve the president. They're going to be appointed by the president, that they will engage with him whether or not they admit that it's consultation of sorts or advisory or if they just say we're having a.

[Andrew Ross Sorkin]

Discussion. Meantime, the chief financial officer of Elon Musk's rocket company SpaceX, telling employees that the firm is preparing to go public next year and will buy shares from insiders in a deal that values Space x at around 800 million or billion $800 billion, according to multiple reports that took place over the weekend. They say a letter late last week from Space X's cfo, Brett Johnson Jensen to employees and other shareholders laid out plans for Space X to buy about $2.5 billion worth of those shares from eligible stockholders at $421 a share. That's about double the previous internal value. And according to reports, the letter says the proceeds from an IPO could be used to increase the number of starship launches, deploy AI data centers in space and send crews to Mars. So it's not the 1.5 trillion number that you've heard bandied about yet, but maybe that's still on the.

[Melissa Lee (alternate or co-host)]

Road. Yeah, and what's interesting too are the firms that have invested early on in SpaceX and now have these unrealized gains that are enormous. Like Google in April said it had an $8 billion unrealized gain, which was assumed to be SpaceX. Fidelity also has the same, is in the same situation. So once this thing goes public, those will be realized gains. That should be interesting. Yep. Australia's leader proposing tougher national gun laws after a mass shooting targeted a Hanukkah celebration in Sydney, leaving at least 15 people dead. The Australian prime minister said he would push for limits on how many guns license owners can obtain. And he also said licenses should not be granted forever. The shooting at Sydney's popular Bondi beach was Australia's worst in almost 30 years. Close to 40 people were being treated at hospitals. Police said the two shooters were a father and son. The father was shot dead. Australia's national broadcaster said two Islamic State flags were found in the gunman's vehicle. The shooting spotlighting whether Australia has done enough to stem rising anti Semitism. Synagogues and other buildings have been targeted since the Israeli Hamas war began in.

[Andrew Ross Sorkin]

2023. You know, I didn't know if I wanted to say anything about this or not. I don't know what you have to say about this. Obviously, the whole situation is just so devastating. But the thing that I've been thinking about a lot is we've been seeing so much anti Semitism across the world, but here in the United States and we have a debate oftentimes on this set and around that has been considered an acceptable debate. And I don't know if it should be considered acceptable, which is there's. There are folks who debate and say they're debating the politics of Israel. I think that's probably a fair debate. Right? You can decide that you don't like the politics of Israel or what Israel is doing at any given time, but there's been a much bigger push over the past couple of years of a true anti Zionism, anti Israel debate in totality. And I think there is a genuine. I mean, I know people think that somehow you can have two. You can hold two ideas in your mind at one time or that that's somehow acceptable, but I think that there is something happening right now where this anti Zionism argument, I don't even want to call it that is now bleeding over into something that is. And people have said it is anti Semitism. And I think that we. I think we need to have a broader conversation about what that connection really is. And for whatever reason that that is not happening right now. And I think that obviously there's a lot of things that are taking place in the Middle east that people have lots of concerns about. But nonetheless, I think when you see stuff like this, you have to say to yourself something else is going on.

[Melissa Lee (alternate or co-host)]

Here. I.

[Andrew Ross Sorkin]

Agree. Meantime, back here in the United States, the manhunt continues for a suspect in Saturday's shooting at Brown University. Overnight, police released a person of interest who was taken into custody earlier yesterday. On Saturday, a gunman opened fire at the Ivy League college, killing two people, injuring nine. Law enforcement officials released a video of a person dressed in black walking on a sidewalk near the scene of the shooting. Police say that person remains a person of interest, but they are continuing to search for additional video evidence. The university is sending students home, calling off final exams and Remaining classes and assignments for the.

[Melissa Lee (alternate or co-host)]

Semester. Filmmaker Rob Reiner and his wife were found dead at their Los Angeles home yesterday. That's according to a source close to the Reiner family who spoke to NBC News. The source said the couple appeared to have died from stranger, Louisiana. Police said they responded to a report of two deceased individuals at Reiner's home. Police said a death investigation was underway. Reiner was 78. He was known for his role in all in the Family and directing popular films including the Princess Bride, When Harry Met Sally, and A Few Good Men. His wife, Michelle singer Reiner, was.

[Andrew Ross Sorkin]

65. I just want to say I think we have to send our love and prayers to everybody. I mean, and this is one.

[Melissa Lee (alternate or co-host)]

Of those weekends, the tragedies, the, that.

[Andrew Ross Sorkin]

Have happened this weekend is very hard to. I mean, in almost every instance, we would sit here and talk about this for a much longer time. I mean, the Reiners think about. I mean, you just reeled off those films. If Joe was here, we'd be talking about those films this morning. They were all extraordinary. The families on bond at beach, folks at.

[Melissa Lee]

Brown. Still to come on the podcast, New York City Mayor Eric Adams in his first national exit interview. As his time leading the Big Apple wraps up at the end of the.

[Andrew Ross Sorkin]

Year. What's the next plan for the mayor? What are you gonna do.

[Eric Adams]

Next? Smoke a cigar. Have fun. Enjoy. Jordan, you know I've been doing this for 40.

[Melissa Lee]

Years. Squawkpod will be right.

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[Melissa Lee]

Edu. Welcome back to the.

[Andrew Ross Sorkin]

Podcast. This is Squawk Pod up and Andrew Q. You're watching Squawk Box right here on cnbc. Melissa Lee is hanging out with us today. Becky and Joe are both off with just a few weeks left in office. We are joined now by New York City Mayor Eric Adams and at least for us, what may be an exit interview of sorts. Good to see you, Mr.

[Eric Adams]

Mayor. Hey, great being here this.

[Andrew Ross Sorkin]

Morning. I want to talk about the last four years, but really want to talk about the next four years and what you see in this city. We were talking a little bit off camera just about the next mayor and I had said to you, so maybe you could say it on tv, you know, whether you had met with the mayor and just what that experience has been like because you guys have obviously been at it on both sides.

[Eric Adams]

And it happens during campaign season. You'll have the back and forth action. But then election is over. It's time to safeguard a place that we all love and that's New York. And that's what we did. We had a great conversation. We're going to turn over a transition document with a lot of information. My team, we have already been meeting with his team, the mayor elect, and to make sure that he can have the smoothest transition as possible. And that's my.

[Andrew Ross Sorkin]

Job. How many times have you met him? A couple times. You talked to him a lot. What's going.

[Eric Adams]

On? We communicate several times the modern communication way now through text messages, number one. Number two, we had a great meeting at great. And actually I met the man and his dad prior to him running for mayor. We had a great conversation then. And you know, New York is, I have a New York state of mind. That's.

[Andrew Ross Sorkin]

It. Are you optimistic about the.

[Eric Adams]

City? Cautiously. If he gets in office and as many of us do realize the complexity of running a city of this level, we'll navigate some turbulent storms, some that we see and some that you don't see. But if he allows the agenda of the Democratic socialists of America to be the platform of this city, we're going to be enforced. Some real.

[Andrew Ross Sorkin]

Problems. Let me ask you a separate question because you took to Instagram and some social media and the like when he came out and said that he was going to stop the sweeps of Some of these tented camps around the city. We then had Kathy Wilde on the broadcast and she tried to suggest that actually he wasn't going to do that. What do you think is going to happen there? Because it gets to the issue of security and, you know, just life, life around the.

[Eric Adams]

City. Well, and you're right, it's more than, first of all, it is a security issue. January, when I became mayor in 2022, I went and visited those camps. Stealth food, human waste, drug paraphernalia, schizophrenic behavior. And so we need to understand that not only is it a, a humanitarian issue, but also as a business, you don't want to walk out your business and seeing someone sleeping in a tent. We look at what's happening in other cities and it was a humane thing to do to get people.

[Andrew Ross Sorkin]

Indoors. So what do you think he's going to do? And have you talked to him about that or his team about.

[Eric Adams]

That? When we sat down and spoke, I told him how important it is to make sure that we keep the encampments and homelessness under control. That's one of the top things you hear from New.

[Andrew Ross Sorkin]

York. So what was your takeaway from that conversation, given what he said publicly about.

[Eric Adams]

This? Well, I think that he has a team of people he's working with. As I stated, many people don't know of the Democratic Socialists of America. They should read their agenda. They don't believe there should be any prisons in our city. They don't believe that you should do encampment enforcement. What they believe. They believe in decriminalizing prostitution. After all that we've done, if he follows that agenda, we're going to be having some real quality of life issues in our.

[Melissa Lee (alternate or co-host)]

City. In recent weeks, you've signed a number of executive orders in a seemingly effort, a seeming effort, to sort of stop Mayor elect Mamdani from enacting parts of his agenda. Is that the right characterization of what has gone on, trying to bulwark the city against what he is trying to.

[Eric Adams]

Do? No, not at all. I'm protecting the legacy and protecting New Yorkers. And I was really surprised to see how many people talked about my executive orders. And I look back at some of the stories. When Bloomberg left de Blasio, when de Blasio left for me, no one talked about the executive orders. I don't control my campaign finance board. Those are all de Blasio appointments. I don't control the CFCO Conflict of Interest board. Those are de Blasio appointees. And so this is what happens in government, the incoming mayor must deal with whatever was put in place by the previous mayor. So I'm just making sure New Yorkers are safe and the legacy is safe. Like on the RGB board, if you tell small property owners for the next four years, no matter what the economic outcomes are, you could never be able to increase their rent. Small property owners, 18 units, houses, they're going to hurt in this city. I'm protecting New Yorkers in my.

[Andrew Ross Sorkin]

Legacy. Let me ask you a different question. We were talking at the top of the, the broadcast about what happened in Australia, Bondi beach and what's clear, clear anti Semitism, if not terrorism, and those murders. And there is a conversation in this city happening right now about Jews, I'm Jewish, by the way, and about anti Semitism and the conflation oftentimes of anti Zionism, which is something that this mayor has talked about to some degree. And whether you think that people understand what is a very nuanced position in some cases about, you know, folks who have, who disagree with the policies and politics of Israel versus the folks who disagree with folks who are Jewish and how you think about that today and what is about to happen in.

[Eric Adams]

This city, that's a great question. And look at have you heard the Sydney government, have you heard them talk about anti Semitism in this attack? Have you heard them since October 7, 100,000 Jews in that country, have you heard them stand firm? No, you haven't. And that's troubling. And if the leadership of a country or city is not willing to point out when a particular group of people in their country or city are being harass, harm, threaten, standing in front of a synagogue calling for globalizing intifada, if we're not willing to stand up as the leader of the city and say this is wrong and it's not going to happen, that is what's troubling antisemitism. It has been normalized across the globe in general, but specifically here in New York. And that's what Mayor Lexington, let.

[Andrew Ross Sorkin]

Me ask you about this next mayor.

[Eric Adams]

Then.

[Andrew Ross Sorkin]

Yes. So what do you think his real position is, by the way? He came out to his credit, I think yesterday, put out a statement about not just what happened at Brown University, but what happened, you know, at Banda Beach. And I just wonder what you think it portends for the.

[Eric Adams]

City. Well, he has to corral his supporters. And you know, when you go into office with your staffers, your supporters and their philosophy is the destruction of Israel and, and translate into what you verbalize and what you show here in your city, that's a problem. And he must corral his supporters and send a very clear message, not only about what he say, but it's in action. Don't dismantle the IRA definition. Don't dismantle my office to combat antisemitism. Keep doing the group sessions that we're doing with communities across the city to bring us together. So you can't say on one breath that Israel does not have a right to exist, then you have so many Muslim countries that have Muslim leadership. I've been to Saudi Arabia. I've been to Oman. I've been to Jordan. They are clear Muslim countries and they have a right to exist. I respect their right to exist. Israel has a right to exist. Our only partner, when you think about it. You know, they're against isis. ISIS hate America. They're against Hamas. Hamas hates America. They're against all these other terrorist groups who hate America. I'd rather align with those who love me than those who hate.

[Andrew Ross Sorkin]

Me. Let me ask you a separate question. Commissioner Tisch, who runs the.

[Eric Adams]

Nypd.

[Andrew Ross Sorkin]

Yes. She worked for you. She's going to work for him. Do you think that she is going to be in that role a year or two or three from.

[Eric Adams]

Now? We hope so. Look what we've done with crime. 25,000 illegal guns off the street. We had one period over last week, 12 days without a homicide. We're seeing record level of safety on our subway system where the employees of the companies that watch the.

[Andrew Ross Sorkin]

Show. The reason I asked the question, though, is having spent time with this next mayor, though, do you feel confident that he is going to give her the independence to make the decisions that, by the way, clearly she has views that are different from.

[Eric Adams]

His. That's the conversation that the two of them, I'm sure they had when they sat down together and she made the determination what she's going to do next. I know she loves the city. And I know that like my other commissioners, Commissioner Sewell Caban and now her, there's been a consistent decrease in crime. Our city is still the safest big city in America. More jobs in this city in the history, wrote the record. 11 times. More small businesses double a bond raided. This city is on a good plateau that we can't allow safety to harm.

[Melissa Lee (alternate or co-host)]

It. In terms of what you're looking forward to in 2026 and the concerns that you may have, we were discussing in the break that we as New Yorkers will be able to fare whatever comes pretty. We were very Fortunate. But there are many in New York who aren't. And they're the people who, in large part voted for Mayor Elect Mamdani. In terms of the policies, where are you the most concerned? In terms of the policies not necessarily serving those who are the most vulnerable, whether it be in educational funding or safety in the.

[Eric Adams]

Streets. That's a great.

[Melissa Lee (alternate or co-host)]

Question. Where are you.

[Eric Adams]

Worried? Okay. Two things. Number one, those weren't the New Yorkers who voted for him. Let's be clear. 49% of New Yorkers did not vote for him. 49%. 50.3 or 4 did. So many New Yorkers are concerned. But here's my areas of concern for New Yorkers. Public safety. He wants to release 3,000 inmates from Rikers Island. They're gonna go back to the communities they preyed on, the Brownsvilles, the South Jamaica, Queens, et cetera. He wants to decriminalize prostitution. We did a great deal of work to tell these young girls and boys, don't sell your bodies on the street and be exploited. We're gonna go backwards in that area. You can't tax communities based on ethnicities. You can't tax white communities based on their ethnicities. We saw that. What's happening now with African American and Asians and other communities are being taxed based on where they located. Can't do that. And you can't run millionaires out of the city. 51% of our taxes. So we're in a financial ecosystem where the guys that drive the limousine should have a good pay, and the guy that's sitting in the back of the limousine should pay his taxes. And so what? He. If he continues the GSA policies is going to hurt working class people. That is my.

[Andrew Ross Sorkin]

Concern. Let me ask you a different.

[Eric Adams]

Question.

[Andrew Ross Sorkin]

Yes. Given your concerns about this.

[Frank Luntz]

Mayor.

[Andrew Ross Sorkin]

Yes. This is a personal question for you. You dropped out of this race. There's an argument to be made that you should have dropped out a lot.

[Eric Adams]

Earlier.

[Andrew Ross Sorkin]

Mm. That if, in fact, you really wanted to prevent this mayor from winning and wanted somebody else to win, in this case Andrew Cuomo, who I don't think you were a big fan of either, that you needed to have dropped out much earlier in the process to give him a chance and whether he would have had a chance, a better chance, to win.

[Eric Adams]

Otherwise. Think about that. See, Think about how ridiculous that question is. I'm the city mayor of the city of New York who stated, I'm not going to run in the primary, I'm going to run in the general to go head to Head. And many people said, eric, that makes no sense. And then all of a sudden, people realize how wise I was because head to head, we would have had a fair chance to win. And I had many conversations with the governor and said, governor, let's look at this field. You had the primary. Let me now go.

[Andrew Ross Sorkin]

Into. So you're arguing that he should have dropped out.

[Eric Adams]

Earlier. Without a doubt. Without a doubt. You know, sitting mayor, we were able to put together the operations to have a serious campaign and look at the outcome. 49% of New Yorkers who didn't come out to vote, many women didn't come out to vote because of how.

[Andrew Ross Sorkin]

They felt, but the polls did not seem to reflect that. You. And I think one of the reasons that you dropped out was in fact, that you weren't gonna.

[Eric Adams]

Win. No, no. The reason I dropped out is because we could not have a three way race. As other candidates dropped out, I did what was best for the city, not what was best for.

[Andrew Ross Sorkin]

Right. I mean, and where I'm going with this is would it have been best for the city to have dropped out earlier, a month or two or.

[Eric Adams]

Three? Yeah, yeah. And in retrospect, you know, everything's.

[Andrew Ross Sorkin]

You know, it's a lot clearer afterwards. So I get that. But when you look back at it now and again, if we were to go to lunch five years from now, would you say, you know what, maybe I should.

[Eric Adams]

Have. No, no. Maybe I should have done what I was sworn to do to run for office, run for reelection as the sitting mayor. Remember what I'm saying here. I was the sitting mayor, the second African American mayor in the history of this city. I'm the sitting mayor. If I would have said after the primary that I'm going to abandon right away, that would have been the same foolish thing to do. When people were calling me to step down while I was navigating the city in the right path, I made the right decision. Then I recovered our economy. I brought down crime, I built more housing than any man in the history of the city. I improved our education. Just as I didn't listen to those who were saying, step down, step down, step.

[Andrew Ross Sorkin]

Down. Mr. Mack, I give you actually an enormous amount of credit. I actually think that you've done an extraordinary job and the city has prospered during your time here. No question. I also think, for whatever reason, and I apologize for saying it to you this way, but because of some of the scandal and baggage and the relationship with the situation with Trump, you were considered a flawed candidate. By the way, Andrew Cuomo was also considered quite a flawed candidate. I'm.

[Eric Adams]

Not. Curtis Lever was considered a flawed.

[Andrew Ross Sorkin]

Candidate. I'm saying there's a lot of.

[Eric Adams]

Candidates considered a flawed.

[Andrew Ross Sorkin]

Candidate.

[Eric Adams]

100%. You had a 49 to 50.3 or 4. Everybody was a Floyd candidate. So the goal was to follow the plan that Eric laid out. Hey, guys, run in the primary. I'll do this in the general election. We will have two bites at the apple. So my plan wasn't flawed. It was flawed. When you had people like Curtis Lewo, who I still believe was working for the Zoran campaign, you know, you think he was realizing. Without a doubt. Based on what, the number of things. He never raised money like this before when he ran for office. So what was all those contributions coming from? Number two, he clearly knew he had no chance of winning. He clearly knew that. But he stayed in anyway. And then do an analysis of who he attacked. He didn't attack Zoran. He attacked Andrew Cuomo. He attacked Eric Adams. So his whole strategy, you need to question and look at. And I think history is going to reveal his.

[Andrew Ross Sorkin]

Role. Okay, I got a different one for you. So there's a lot of business folks who are gonna be watching the.

[Eric Adams]

Broadcast. Yes. And they all say, we loved Eric Adams as mayor because Eric returned our.

[Andrew Ross Sorkin]

Economy. They may very well. They may very well. Mr. Mayor, my question to you is. I think there's a debate going on in the. In the business community, among the larger businesses, about whether they should try to embrace this mayor and try to get in the tent with him, or they should be adversarial, if you will, publicly and privately. And I'm curious, as somebody who's been on the other side of this, what you think the real answer.

[Eric Adams]

Is? No. They should love New York. And they.

[Andrew Ross Sorkin]

Should. But. No, but, by the way, you can love New York and have whatever perspective. You could love New York and get in the tent, and you could love New York and say, you know what? I don't like this part of it, and I'm worried that it's going down the wrong direction. I need to be outspoken against.

[Eric Adams]

It. If that's the case, that's exactly what they should do. And I said the other day, what's exactly that they should work with. With the mayor when they can work with the mayor. But if the mayor is not doing what's best for the city, they need to make sure they use their abilities as leaders, like the partnership, like Rebny, like Abney, and they should use their ability as leaders to State where the mayor has gone wrong like they've done for me and they've done to others. And so we should be clear, the role of our business community is to continue to thrive, continue to grow. And the people in these buildings here, those are everyday working class people that live in the communities that want to ensure that we're safe, that don't want encampments on their streets, that want their children educated. So sometimes when we look at the business community, we forget about the secretary, the accountant, the AI professional. These are working class people. When they get on the subway system, they don't want to see homelessness. They want to be able to swipe their metro card and go to their location safe. They don't want prostitution in front of their children's, their child's school. They want to walk out and see a clean environment. And so if the mayor doesn't continue what we have successfully done, then they need to raise their voice and not be.

[Andrew Ross Sorkin]

Silent. Mr. Mayor, I want to thank you for your service. Thank you for the interview, for being with us. What's the next plan for the mayor? What are you going to do.

[Eric Adams]

Next? Smoke a cigar, have fun, enjoy. Jordan, you know I've been doing this for 40.

[Andrew Ross Sorkin]

Years. Yeah, 40.

[Eric Adams]

Years. It's time for me now to sit back and just enjoy life. I want to travel again. I want to write a book. I want to get my PhD. I want to do some stuff across the globe and here in this city. I'm not going away. I love this city and I'm going to make sure that nothing hurts the working class people of this.

[Andrew Ross Sorkin]

City. Well, we look forward to seeing you again soon, sir. Thank you. Thank you again. Cheese will be.

[Melissa Lee]

Next. Coming up next on Squawk Pod, health care, food and fuel affordable affordability are front and center for U.S. voters. Pollster Frank Luntz explains what he perceives as a breaking point for.

[Frank Luntz]

America. The real problem here is that these vehicles, the ability to make these changes that the public is demanding. The problem is they don't trust the institutions who are responsible for those.

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[Melissa Lee]

[e-mail]. you're listening to Squawk POD from CNBC TODAY with Andrew Ross Sorkin and Melissa.

[Andrew Ross Sorkin]

Lee. The number one issue facing Americans today, which they say will impact their vote in the 26 midterm, is affordability of everyday items like food and fuel. That's according to a recent survey conducted by our next guest. Joining us right now is pollster and political strategist Frank Luntz. Frank, it's great to see you. We've been talking about this word affordability, which has become sort of part of the political, if not popular, lexicon. The president has said that word is a con job. Greg IP from the Wall Street Journal has even raised questions himself about what even affordability means. But given that you, you work in the world of language and how people use it and how people think about it, where does it really lie and how do you explain.

[Frank Luntz]

It? It's very significant. A year ago I was on your show, we talked about inflation and I criticize those who use that word because the average American doesn't talk about inflation. That's an economist word. The average American talks about affordability or cost. Can I afford the food, the fuel, the housing, the health care? But there's something that's even more important. Half of Americans now live, and I quote paycheck to paycheck, and how they define that is different. But these are people who have trouble paying their bills on a monthly basis. When half of Americans are saying that, that tells me that this economic insecurity and anxiety is real. And Andrew, let me give you three numbers behind this. One third of Americans could not afford a cost, an unexpected health care cost of $5,000. And that's powerful. And When I know that half of Americans have trouble with their expenses, it goes from a concern to a crisis. And you'll notice that the number one issue is food and the number two is food and fuel. The number two issue is affordable health care. That's why this debate that's coming up in the Senate and the House is so important. And my warning to both political parties, if you don't figure out a way to make health care costs more affordable, the public is going to punish you one year from.

[Andrew Ross Sorkin]

Today. So Frank, here's the real question though. Is it about bringing costs down or is it effectively about bringing wages? Because that is a, you know, there's two ways to handle this situation and the question is which measure effectively. You know, politicians even have a real role over.

[Frank Luntz]

Changing. Well, that's a brilliant question and no one asks it that way. And that's what I study. Cuz I'm a language person and I know that it's the outcome, it's the result. Wages are important, but costs are vital. Wages put you in the game. But if you still, if your wages are up and you still can't afford the house you want, the health care you need and the food and fuel you deserve, what good is it? So I'd say to you that costs are more important. And secondly, it's not just that health care has become unaffordable, it's actually that things have become so expensive and prices are considered too.

[Andrew Ross Sorkin]

High. When you think about just affordability though, and the measure of affordability, how much of it is the price rise relative to where it was a year or two ago? The reason, the reason I mention this is because you start to think about yourself, think about the country historically. Even when you think about numbers like unemployment. Sometimes I think to myself, right now, for example, unemployment in this country on a historical basis is actually quite low. It's almost like Alice in Wonderland, to be be honest with you. Go back and think about where unemployment was after the financial crisis. 10%, middle of the pandemic, 14%. I wrote about 1929, back in 1932, 25%. Lowest unemployment we ever had was 2.5%. But people would say right now that somehow we're having, I've talked heard from people say this. We have a real unemployment problem in this country, but it's all relative. And so the question is how we should think about prices on a relative basis, how you should think about employment on a, I mean, and is it, is it just a year look back, a two year look back a Five year look back, what is the.

[Frank Luntz]

Measure in your mind, it's right now compared to the past. And that's the best I can give you because that's accurately how Americans see things, that they look at it and how it impacts them personally, not their neighbors, not the country. We don't care what the overall numbers are if we're suffering. By the same token, if things are well for us and they're not well for other people, we don't see it, we don't perceive it. So it is relative. But there's no absolute. And I would say to Democrats, when we go back to health care, you all keep coming back with a government solution that's a mistake because the American people don't trust the government to do anything on health care. And for the Republicans, they keep coming back to an insurance based solution. And Americans hate insurance companies. So, Andrew, the real problem here is that these vehicles, these, the ability to make these changes that the public is demanding. The problem is they don't trust the institutions who are responsible for those changes. By the way, that's why I'm here in studio, not doing this on Zoom. I want people to hear this clearly. We are at a breaking point in this country that the public sees that these problems, that the challenges that have faced them are so significant and that neither political, I'll repeat that neither political party has the answers for them or is willing to do it. And the final proof for them was a government shutdown that lasted months, many weeks, six.

[Melissa Lee (alternate or co-host)]

Weeks. I guess it sounds like both parties then are between a rock and a hard place because you're saying that the only solutions the American people will accept are solutions that lie outside of the government. And yet that is only that's what's in the control of the administration of Congress. What needs to be the messaging of either the administration or Democrats if they want to maintain control or gain control in the case of the Democrats, to the American people. What is a gap in the messaging.

[Frank Luntz]

Here? We learned from Joe Biden that to say that inflation was transitory. First off, the average American did not know what that meant. And those that did said, no, it's not. This is real and I'm feeling it. And Donald Trump won the election in 2024 precisely because the Biden administration did nothing in the eyes of the public on inflation. Remember, it's not reality, it's perception. If you perceive this is happening, you'll believe that that's the truth. Secondly, the Trump administration seemingly doesn't seem to prioritize these issues. And combining it with a big beautiful bill, which was his language, his name for that legislation, it was a bad name. It was inefficient and ineffective to promote what was happening in that legislation. And now he realizes it when it's upside down in terms of public support. So going forward, first step is, I hear you, I see you, I get it. Second step is you don't want rhetoric, you want results, you want solutions. You want common sense and not politics. And third, stop blaming the other party and start doing these three steps. Either party could take advantage of it, either party could embrace it, but if they don't, the public is not just decided between Republicans and Democrats. They're deciding whether or not they even want to participate in the Democratic process. And that's when you know you've reached the breaking.

[Andrew Ross Sorkin]

Point. Frank, if you were a betting man right now, what does 26 look.

[Frank Luntz]

Like? Perfect question. Democrats narrowly take the House. There aren't that many seats that are up for play thanks to redistricting. And by the way, Andrew, we haven't even talked about that, how damaging it is to the public perception of democracy when they change the lines in the middle of the game. If you change the football lanes, you change the baseball lines to hostility would be significant. Democrats have a five point lead right now and that's enough to give them roughly a five seat majority in the House and the Senate. If they botch health care, the Senate could be up for grabs as.

[Andrew Ross Sorkin]

Well. The health care debate, does that work in the favor of Democrats or Republicans? Come 26, the government shut down. For a long time there were a lot of people blaming the Democrats for shutting the government down. But I do wonder strategically whether that will ultimately work in their favor, especially if there are these major price hikes as we get closer to the.

[Frank Luntz]

Election. If they believe that Republicans are tone deaf on health care, they will punish them. If they believe the Democrats are trying to make political gains. And I go back to Enron, you know, Andrew, I'm old, so I remember when this happened in 2002, the Democrats had every advantage over the Republicans, but the public came to perceive it as politics rather than policy, and they punished them for it. If it looks like it's an insurance company solution, the Democrats will benefit. If it looks like it's a government solution, the Republicans will benefit because the public doesn't trust either of them. At this moment, the Democrats have a slight advantage. But my God, we've got a year to go and in the end, voters don't make up their minds until Labor Day before the election. That's the date you want to.

[Andrew Ross Sorkin]

Watch. Frank, always appreciate your perspective, specifically appreciate it this morning on this important topic and appreciate you coming in this morning to articulate it to our viewers. Thank you. Happy.

[Melissa Lee]

Holidays. And that is Squawk Pod for today, this Monday. Thanks for starting your week with us. Squawk Box is hosted by Joe Kernan, Becky Quick and Andrew Ross Sorkin. Tune in weekday mornings on CNBC at 6 Eastern to get the smartest takes and analysis from our TV show right into your ears. Please follow Squawkpod wherever you get your podcasts. We publish for free every Monday through Friday, so you won't miss a thing. Have a great day. We'll meet you right back here.

[Andrew Ross Sorkin]

Tomorrow. We are clear. Thanks.

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