NORFOLK (Virginia) • Former New York mayor Michael Bloomberg said he changed his mind and decided to make a late entry into the 2020 Democratic presidential race out of fears that the current field of candidates would lose to President Donald Trump.
"I think that there is a greater risk of having Donald Trump re-elected than there was before, and in the end, I looked in the mirror and said, 'We just cannot let this happen'," Mr Bloomberg told reporters in Norfolk, Virginia, in his first campaign stop after announcing his bid on Sunday. Mr Bloomberg said in March he would not seek the White House in 2020, and also decided against a run in 2016.
He also defended his decision to fund his campaign without seeking outside donors, despite criticism from other Democrats that the billionaire businessman was trying to "buy" the presidency.
Mr Bloomberg said he would outline plans during the campaign on issues, including "raising taxes on wealthy individuals like me". Mr Bloomberg is the founder and majority owner of Bloomberg, the parent company of Bloomberg News.
He chose Norfolk for his first campaign stop to highlight his efforts to oppose gun violence and help elect Democrats. Virginia Beach, Virginia, was the site of a mass shooting on May 31 that killed 12 people.
Mr Bloomberg has vowed to entirely self-finance his campaign and work for US$1 (S$1.40) a year if elected. He has already planned to spend at least US$34 million, a record, in an initial TV ad blitz across the country this week, as well as other spending, including US$100 million in digital issue ads targeting Mr Trump in Arizona, Michigan, Pennsylvania and Wisconsin.
That prompted a new wave of criticism on Monday from Senator Elizabeth Warren, who said in Iowa that Mr Bloomberg is betting he only needs "bags and bags of money" to win.
"His view is that he doesn't need people who knock on doors. He doesn't need to go out and campaign... He doesn't need volunteers," said Ms Warren. "And if you get out and knock on 1,000 doors, he'll just spend another US$37 million to flood the airwaves and that's how he plans to buy a nomination in the Democratic Party. I think that is fundamentally wrong."
Not accepting donations means Mr Bloomberg would not be able to participate in debates based on current Democratic National Committee rules. Mr Bloomberg said he will take part if the rules change and he becomes eligible but, otherwise, he plans to "talk directly to the public".
Norfolk is home to the largest naval base in the world and the North American headquarters for Nato, and Mr Bloomberg criticised Mr Trump's role in Navy Secretary Richard Spencer's resignation on Sunday over the case of a Navy Seal accused of war crimes in Iraq that angered the President.
"We have a president, a commander-in-chief, who has no respect for the rule of law, and no concern whatsoever for ethics or honour - or for the values that truly make America great," Mr Bloomberg said, echoing the sentiments expressed by the other 2020 Democratic candidates.
"The stakes could not be higher: We must win this election," he said.
BLOOMBERG
