Ex-Chicago Mayor Rahm Emanuel says affordability fixes will determine if he makes White House run at LIA luncheon

Former Chicago Mayor Rahm Emanuel offered another hint he'll make a run for the White House in 2028, telling a group of Long Island business leaders that his decision lies in whether he can find solutions to America's affordability problems.

"People worry about owning a home, affording their healthcare, saving for education and retirement. What was possible for us is not possible. Here in Long Island, a starter home is $800,000. Where are the kids coming out of college — who's living in their parents' basement with $30,000 in debt — where are they going to find $160,000?" Emanuel, a centrist Democrat, said. "If I think I have an answer to not only kind of address that, but also then the strength to get it done, then I’ll do it. If not, I’ll go join my wife in Montana and go fly fishing."

Emanuel's remarks were part of a near-hourlong discussion focused on politics and the economy at the Long Island Association's luncheon at Bethpage State Park in Farmingdale, where he spoke alongside former Republican California Rep. Kevin McCarthy (Newsday was a co-sponsor).

In the 1990s, Emanuel served in former President Bill Clinton's administration, later becoming a congressman representing Illinois in 2002. Eventually, following the 2008 election, former President Barack Obama appointed Emanuel to be his White House chief of staff. Two years later, he resigned to run for mayor of Chicago, where he served two terms. In 2021, former President Joe Biden appointed him to be U.S. ambassador to Japan, a post he stepped down from before President Donald Trump took office.

Emanuel has expressed presidential ambitions for months, but has not made a determination yet. At an event in Boston last month, Emanuel said he would make a decision sometime after the November midterms, according to WBUR.

On the upcoming midterms, both Emanuel and McCarthy discussed the importance of suburban voters like those on Long Island.

"Democrats control urban elections, Republicans control the rural," Emanuel said. "The battleground will be in the suburban districts. That has been the truth for the last 20, 30 years."

Over the last 10 years, Long Island voters have become increasingly disenchanted by both major political parties, data shows.

In both Nassau and Suffolk counties, about 30% of active voters are not affiliated with either major political party, according to state data from February. Nearly half of American voters overall identify as independent, recent polling shows.

"I'm one who believes both parties are in trouble. Both parties are not solving problems," McCarthy said. "That's why you're getting flips in control, that's why people aren't believing in the system."

For McCarthy, his fear for the November midterms, he said, is that "there are fewer competitive races ... if [Democrats] won, would they have a big majority? No."

Emanuel himself has been outspoken against his own party, criticizing Biden for being "weak" in public remarks.

Two words that define the Democratic Party? According to Emanuel, "weak" and "woke," he said. "And neither are favorable."

The November race for congressional seats on Long Island will be pricey, Newsday has reported.

Early voting for the primary election began Saturday and will run through Sunday.

Voters can find their early voting polling location on the New York State elections website.