Peter Orszag, a businessman and ex-Obama official, claimed Thursday that the Democratic Party was in peril of becoming an anti-capitalist and antisemitic party.
Orzag spoke with CNBC in the aftermath of Democratic New York Assemblyman Zohran Mandani winning the Democratic New York City mayoral primary election. Mandani was endorsed by the New York City Democratic Socialists of America.
“Let me step back and just say that I am saddened to say that I think the Democratic Party is becoming increasingly antisemitic and anti-capitalism,” Orszag said. “And the thing about it is turning … towards socialism and turning away from your moral principles through antisemitism never works. So there is a fundamental concern that I have and I think many people have about the direction of the Democratic Party along those two dimensions.”
The host later asked Orszag to clarify what he meant with his concerns over alleged antisemitism.
“The Democratic candidate for mayor has embraced the ‘global intifada’ idea,” the businessman alleged, saying his concerns went beyond the mayoral race. “The [Democratic Congressional Campaign Committee] has distributed fundraising emails from a senior Democratic operative who had said that Jewish donors are only interested in tax cuts. The senior leadership in the party still seems to have cognitive over its stance on Israel, and you go down the list. It’s problematic.” (RELATED: Democrat Leadership Lines Up To Kiss The Ring Of NYC’s Socialist Starlet Zohran Mamdani)
An interviewer asked Orszag if he intended to join the Republican Party, which he appeared to deflect. “I am hopeful that the Democratic Party will change course and, again, history shows that neither being anti-capitalism nor being antisemitic is the pathway to any sort of good outcome,” he said.
When asked whether his business would continue as usual in New York City if Mandani is elected mayor, Orszag was noncommittal. “First, let’s see what happens in the general election here in New York and then we have to see what policy changes happen. I would say we are very committed to New York. The bar would be high for us to move, but we have to see how things play out,” he said.
Mamdani issued a statement on Oct. 8, 2023, a day after Hamas’ October 7 attack on Israel, where he did not appear to mention the name of the terror group. He told MSNBC’s Mehdi Hasan in December 2024 that he, if elected mayor of New York City, would arrest Israeli Prime Minister Benjamin Netanyahu if he visited. “This is a city that our values are in line with international law. It’s time that our actions are also,” the mayoral candidate said.
Tim Miller of “The Bulwark” asked the mayoral candidate about phrases like “globalize the intifada” and “from the river to the sea.” Mamdani said he was not comfortable with the approach of “banning certain words.”
Orszag is CEO and chairman of Lazard, a global business and asset management company, according to the its website. He previously served as Obama’s Director of the Office of Management and Budget and as Director of the Congressional Budget Office.
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