- Michael Bloomberg officially joined the 2020 Democratic primary Sunday after weeks of speculation.
- His campaign announcement calls Donald Trump an “existential threat to our country.”
- But Michael Bloomberg is just like Donald Trump.
Billionaire financial data entrepreneur and former New York City Mayor Michael Bloomberg joined the 2020 race officially Sunday.
He’s spending at least $34 million of his personal wealth on an ad blitz in most Super Tuesday states starting Monday. Here’s the ad:
In an announcement on his campaign website Sunday, Bloomberg wrote:
I’m running for president to defeat Donald Trump and rebuild America.
Calling the president “an existential threat to our country,” Bloomberg warned that the United States would “never recover from the damage” if Donald Trump wins reelection in 2020.
But Michael Bloomberg might have more in common with Donald Trump than he has differences. And so might a Bloomberg Administration:
1. Michael Bloomberg and Wall Street
Donald Trump’s White House has been called a Goldman Sachs alumni club full of billionaires and Wall Street tycoons. He’s been very cozy with Wall Street since taking office, despite tough talk against the banks on the campaign trail. Michael Bloomberg is Wall Street.
2. Trump 2.0 on Foreign Policy
From the campaign trail through his entire first term, Trump has been a foe of the U.S. foreign policy establishment which backed Hillary Clinton. Foreign Policy suggests Michael Bloomberg would be similar:
Bloomberg’s worldview runs counter to the U.S. foreign-policy establishment and its assumption that American power and global capitalism are mutually supporting forces.
3. Systemic Racism Redux
Donald Trump touted himself as the “law and order” candidate during his 2016 GOP nomination acceptance speech. That includes supporting stop and frisk policies that the ACLU has called race-based police abuse.
These policies came into effect while Michael Bloomberg was mayor. Bloomberg has also taken heat for harassing New York City’s Muslims with discriminatory police surveillance.
4. Bloomberg’s Partisan Opportunism
Donald Trump used to be a Democrat. Michael Bloomberg used to be a Republican. He enthusiastically endorsed George W. Bush’s reelection. So they’re not really committed to their respective parties’ principles.
Maybe that’s why Donald Trump is running record deficits as a Republican. They’re both apparently more interested in using parties as a vehicle for their personal ambitions than advancing their parties’ platforms.
5. Battle of the Billionaires?
If Bloomberg is nominated, it would be a contest between two ultra wealthy businessmen who largely self funded their campaigns from personal wealth.
Amazingly, Michael Bloomberg’s net worth would make Donald Trump look like the “poor guy” in the race. If Bloomberg wins the nomination, Democrats will be running a New York City billionaire businessman.
We already have one in office.