Squawk Pod (CNBC) – NYC Mayoral Candidate Curtis Sliwa & CA Rep. Ro Khanna

Date: October 23, 2025
Hosts: Joe Kernen, Becky Quick, Andrew Ross Sorkin
Main Guests: Curtis Sliwa (NYC Republican Mayoral Candidate), Ro Khanna (U.S. Representative, CA)

Episode Overview

This episode spotlights the high-stakes race for mayor of New York City, examining the dynamics between Republican Curtis Sliwa, Independent/former Governor Andrew Cuomo, and Democrat Zohran Mamdani. The discussion expands beyond city politics to include national issues: new US sanctions on Russian oil, media industry mergers, the ongoing government shutdown, and debates over healthcare reform. Congressman Ro Khanna joins for in-depth commentary on generational political change, health policy, and the implications of the government impasse.

Key Topics & Discussion Points

1. The NYC Mayoral Election: Battle for America’s Largest City

[01:04–02:21, 19:15–32:07]

• Three-way race: Curtis Sliwa (Republican), Andrew Cuomo (Independent, former Governor), Zohran Mamdani (Democrat, Assemblyman).
• Pressure on Sliwa: Notable donors want him to drop out to boost Cuomo against progressive Mamdani.
  • Sliwa's adamant stand: "I'm not dropping out because some billionaires." (Curtis Sliwa, 01:39)

Highlights from the Final Debate

• Key Issues: Crime, education spending, property and corporate taxes.

  • Sliwa: "Last night I was the only one saying we need to cut corporate taxes. We've got to cut the income tax. The one tax I can cut as mayor without interference is property tax, which is up to 20%." (Curtis Sliwa, 17:26)

• Debate over Democratic priorities:

  • "Democrats have sacrificed their party to the Socialists. I'm the only Republican." (Curtis Sliwa, 21:22)
  • Sliwa attacks Cuomo’s track record on crime and alleges lack of accountability.

• Pushback against dropping out: Sliwa refuses, touting support from GOP figures (Giuliani, Pataki, Ed Cox).

  • "Why would I drop out of a race? … And you're assuming Republicans are going to vote for Cuomo, you're on the ballot." (Curtis Sliwa, 24:04)
  • "I was born in New York City. They tried to kill me in New York City. I will die in New York City. I will be buried in New York City. I know what's in the best interests of New York City. I'm not dropping out because some billionaires have vertical." (Curtis Sliwa, 25:49)

• Bill Ackman’s Allegations Addressed:

  • Andrew Ross Sorkin confronts Sliwa with hedge fund billionaire Bill Ackman's claim that Sliwa's campaign is using public matching funds for personal benefit.
  • Sliwa: "My sister does public relations, which has been her career. Is there something wrong with that?" (Curtis Sliwa, 29:13)
  • Sliwa answers directly and dismisses Ackman as meddling outsider: "This is a guy who's had a midlife crisis [and] thinks he's a tennis pro, and he gets booed off the court. Well, guess what, Ackman, you're getting booed out of the political court. Stay in your lane." (Curtis Sliwa, 28:09)
  • Sliwa closes with a populist stance, emphasizing working-class roots and dismissing outsider (billionaire) influence on NYC politics.

Notable Exchanges and Quotes

• Electoral math skepticism:
  • "It appears the math is not ultimately on your side. I just can't figure out, beyond the pride piece of it… if this is this critical moment for the city, why not unite?" (Andrew Ross Sorkin, 24:57)
• Sliwa’s Response: Emphasizes billionaire influence being consistently "wrong" and frames the race as a battle for the city’s future against special interests.

2. Media & Market Mergers: Paramount’s Bid for Warner Bros. Discovery

[11:43–14:32]

• Paramount’s multiple bids for Warner Brothers Discovery: $19, $22, and finally $23.50 per share.
• Proposal for co-CEO arrangement with David Zaslav (WBD) and David Ellison (Paramount):
  • "When there’s a co-CEO, there’s never a co-CEO. There’s always a real CEO." (Joe Kernen, 13:05)
  • "Didn’t work in Ancient Rome, didn’t work now." (Becky Quick, 13:18)
• Regulatory, political, and industry complications explored.

3. Russia Oil Sanctions & Geopolitics

[03:06–05:00]

• New, harsher sanctions imposed by the Trump administration on Russia’s largest oil companies.
• Motivated by failed peace negotiations and political rifts. Discussion on timing, strategy, and the impact on oil prices and US energy markets.
  • "If you really want to put pressure on Putin, this would be the way to go at it." (Joe Kernen, 04:04)

4. Meme Stocks and Meat Prices

[15:26–16:57]

• Beyond Meat and meme stock phenomena.
• Commentary on beef prices and the Trump administration’s relation with US ranchers.
• Light moments about meat alternatives: "I don’t know where we are on the pea-based meat either." (Becky Quick, 15:57)

5. The Government Shutdown: How To End the Stalemate

[32:09–47:18]

Ro Khanna on Solutions

• Bipartisan funding for troops and essential employees: "I’d vote in a bipartisan way for both paying the troops, paying essential federal [workers]." (Ro Khanna, 34:56)
• Filibuster carve-outs: Urges a filibuster workaround for keeping government open.
• Obamacare, Healthcare Costs, and Medicare for All: Spirited discussion about affordability, private insurer profits, and possible reforms.
  • "Private insurance companies made $171 billion of profits. If we had Medicare for All, if we extended that, it would help private business, it would lower health [costs]." (Ro Khanna, 36:30)
• Transparency, fraud, and pharmaceutical influence:
  • "One is going after Medicare Advantage … the second … is his executive order going after Big Pharma." (Ro Khanna, 39:34)
• Frustration over lack of congressional votes on lowering prescription drug prices.

Exchanges and Philosophical Contrasts

• Concern about both parties using shutdown leverage:
  • "[Neither] party should be shutting the government to blackmail and hold the other party hostage." (Becky Quick, 37:31)
  • "I agree. It’s not that both parties don’t..." (Ro Khanna, 37:54)
• Health care cost solutions debated: Competition, transparency, and government intervention explored from progressive and centrist perspectives.

6. The Generational Shift in Democratic Leadership

[02:03, 43:59–47:18]

• Ro Khanna’s support for Zohran Mamdani:
  • "We need a new generation of leadership. I mean, does anyone think that we need recycled politicians from the 90s?" (Ro Khanna, 44:00)
  • "He’s winning on affordability." (Ro Khanna, 44:20)
• Internal disputes: Becky Quick and others voice skepticism of Gen Z/Millennial leftward tilt, invoke AOC comparisons.
  • "I’d rather have a corpse boomer. Give me a boomer." (Becky Quick, 44:07)
• Policy approach to affordability and housing:
  • Khanna defends Mamdani’s mix of immediate relief (rent freezes/caps) and structural supply expansion: "You have to have some immediate relief because people's rent is too high. But you need to couple that with doubling actually housing construction." (Ro Khanna, 46:46)

Notable & Memorable Quotes (with timestamps)

• Sliwa’s defiance:
  • "I was born in New York City. They tried to kill me in New York City. I will die in New York City. I will be buried in New York City. I know what's in the best interest of New York City. I'm not dropping out because some billionaires." (Curtis Sliwa, 01:39, 25:49)
• On corporate taxes:
  • "Last night I was the only one saying we need to cut corporate taxes. We gotta cut the income tax. The one tax that I can cut as mayor without any interference is the property tax." (Curtis Sliwa, 17:26)
• Becky Quick on NYC politics:
  • "You don't get the leader you need. You get the leader you deserve." (Becky Quick, 31:40)
• Ro Khanna on political renewal:
  • "We need a new generation of leadership. I mean, does anyone think that we need recycled politicians from the 90s?" (Ro Khanna, 44:00)
• Joe Kernen on co-CEOs in media mergers:
  • "When there’s a co-CEO, there’s never a co-CEO. There’s always a real CEO." (Joe Kernen, 13:05)

Segment Timestamps Outline

• NYC Mayoral Race Discussion Start: [01:04]
• Debate Analysis and Sliwa Interview: [17:11–32:09]
• Sanctions & Oil Market: [03:06–05:00]
• Paramount-WBD Merger News: [11:43–14:32]
• Meat, Meme Stocks, and Light Banter: [15:26–16:57]
• Government Shutdown and Ro Khanna: [32:09–47:18]
• Generational Leadership & Housing Policy: [43:59–47:18]

Tone

• Punchy, direct, and often combative—true to Squawk Box’s reputation for candid and challenging conversations.
• Mix of seriousness and levity; sharp questioning, snark, and deep dives coexist.
• Hosts and guests do not shy away from pointed criticism or pointed humor.

Conclusion

This episode delivers a fast-paced, inside-baseball look at New York’s unusual three-way mayor’s race and its national echoes—big money, generational divides, urban politics, and the battle for policy direction in a moment of economic and governance stress. Also on display are sharp debates about affordable housing and how to fix American health care, giving listeners both breadth and depth on 2025’s headline issues.