Michael Bloomberg’s late entry into the 2020 race is based on a widespread fear among Democrats that Joe Biden’s campaign is in a ‘dire’ place


Former Vice President Joe Biden (right) and former New York City Mayor Michael Bloomberg.

Former New York Mayor Michael Bloomberg’s expected entrance into the 2020 race is a clear sign that the billionaire thinks former Vice President Joe Biden’s campaign is on the rocks.
Biden faces an increasingly strong challenge from Sen. Elizabeth Warren while being dogged by a series of gaffes and concerningly low fundraising numbers.
But many Democrats say Bloomberg is longshot against Biden, who’s benefited from decades in the national spotlight and has developed deep loyalty among a broad segment of Democratic voters.
But Bloomberg also has key strengths — including very deep pockets and an experienced political team — that make an entrance this late in the game feasible.
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Former New York City Mayor Michael Bloomberg’s expected entrance into the 2020 race is being interpreted by many Democrats as a clear challenge to former Vice President Joe Biden’s moderate presidential bid.

Bloomberg is reportedly preparing to file paperwork in the coming days to run in at least one state after announcing last March that he wouldn’t join the race. His decision to stay out of the race earlier this year was widely perceived as a vote of confidence in Biden’s candidacy.

But in recent months, many moderate Democrats have sounded the alarm as Biden faces an increasingly strong challenge from Sen. Elizabeth Warren while being dogged by a series of gaffes and concerningly low fundraising numbers.

“The reason that Mike chose not to run back in March was out of respect for Biden’s ability as a candidate, but the results just have not been there so far,” Bradley Tusk, a venture capitalist and former campaign manager for Bloomberg, told Insider.

Biden finished the third quarter of 2019 with just $8.9 million in cash on hand, as compared with

Source:: Business Insider

      

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