Bloomberg’s campaign spent over $180 million during his first month in the 2020 race

CNBC ^ | Fri, Jan 31 2020 1:49 PM EST | Brian Schwartz

[Olog-hai]

Mike Bloomberg’s campaign for president spent a colossal amount of money in the final quarter of 2019 as he attempts to catch up to and surpass Democratic rivals.

Bloomberg’s campaign spent over $180 million at the end of 2019, according to a newly released Federal Election Commission filing. The massive expenditure amount went toward TV ads, field staff and his technology firm, Hawkfish. The record shows Bloomberg’s campaign spent over $11 million on the digital firm. The company has become the primary digital ad agency for Bloomberg’s operation.

He launched his bid for president at the end of November, several months after his fellow candidates joined the field, so his campaign was only active for about a month of the three-month period.

Beyond his campaign’s enormous spending spree, the amount Bloomberg has given directly to his campaign shows why he will likely be able to stay in the race for as long as he wants, regardless of where he stands in the polls. The record shows Bloomberg contributed over $200 million to his campaign. His campaign had $11 million on hand going into the year 2020. The former New York mayor has sworn off asking for donations, even though that move automatically disqualifies him in making the debate stage. …

[SkyDancer]

For. What.??? He’ll never be president no matter how much money he spends on his lies and distorted videos.

[ScottinVA]

He wants to displace Yeb! as the most expensive failed race for the nomination.

Bloomie has about as much charisma as Yeb!, too.

[stevem]

We’ll see how it goes. Jeb spent about $1,000,000 per vote four years ago.

[datricker]

The best thing Democrats could do is get Howard Shultz on a second ballot. Bloomberg is about as interesting as watching paint dry. I just don’t see him doing well any where

[Freee-dame]

Bloomberg has said that he will spend two Billion if he is the Dem nominee and one Billion if he is not. I have seen his phony ad with his campaign bus driving along a two lane road with farms on either side. He owns multiple planes, cars and helicopters. But a BUS??? The voice is not his own which is a poor broadcast voice.

[Teacher317]

Jeb! Bush was #1 in the polls in 2015, and spent $150 million late in the year, all to get 2.8% in Iowa, 11% in NH, and 7.8% in SC (FEB 20). He dropped out on FEB 22. $150 mil isn't what it used to be, LOL

Bloomberg is a late-entry, and he has massive problems in his past, including:
He is a loudmouth old white NYC Republican billionaire... we already have one of those...
His Stop-and-Frisk program was called "patently racist" by Democrats for years...
His CityTime program's $80m "just slipped through the cracks" (his own words)...
His Build It Back program lost the city $300-400 million...
His pick to run the largest school district in America, Cathleen Black, had ZERO background or education in Education. She was a magazine mogul. She lasted 95 days.
He vacationed in Bermuda while The City dug out from a particularly bad winter...
He got the city council to change the Term Limits so that he could have a 3rd term, because he was "too important to the city to not run". (The voters immediately demanded a referendum on the next ballot, and overwhelmingly change the Term Limits back)...
The Left is even more on alert for anyone "buying the election" than the Right is, and he is attempting to do exactly that. (The DNC will look the other way, as it allows them to dedicate resources in other areas, since they're getting killed in the fund-raising competition.)

On top of all that, at the first handshake at the first debate, the public will see 5'7" Bloomberg get dwarfed by 6'3" Trump. Optics like that also sway a lot of votes. Bloomberg might not take NY in the General.

[Teacher317]

(Jeez, I didn’t even get to No Supersized Drinks!!)

[Jane Long]

Think of all the poor people, in NYC, that he could’ve helped with all of that $$..

Rather than poor it down the toilet.

[catnipman]

“If he was a private citizen he would have to follow finance laws.”

and all he would have to do is establish a PAC, and then he could spend as much money as he wanted to WITHOUT being a candidate ...

[catnipman]

“I’m beginning to wonder if Bloomberg is a real candidate. Is he doing this just so he can fund unlimited attack ads against Trump?”

he could do that without being a candidate just by establishing a PAC ...

[catnipman]

“I have seen his phony ad with his campaign bus driving along a two lane road with farms on either side.”

he probably just had it CGIed ...

[colorado tanker]

I had an interesting conversation with a very well connected Dem. He said Bloomie is paying people through the election. In other words, he seems to be prepared to provide the campaign infrastructure to whoever gets the nomination.

Personally, I don't see how he could get away with that under the campaign finance laws, but I am by no means an expert.

[Political Junkie Too]

I've always said that campaign spending is really a yuge money laundering scheme from the donors to the candidates to the media, with the Senate's 33 elections every two years as the biggest offenders.

That said, I wonder how many newsroom layoffs are being delayed due to Bloomberg's personal campaign spending program this year?

-PJ

[marktwain]

Dude’s pissing away money like it has an expiration date.

It does: Michael Bloomberg is 77 years old...

[marktwain]

I've always said that campaign spending is really a yuge money laundering scheme from the donors to the candidates to the media, with the Senate's 33 elections every two years as the biggest offenders.

That said, I wonder how many newsroom layoffs are being delayed due to Bloomberg's personal campaign spending program this year?

-PJ

Very perceptive.

I have had similar thoughts.

But, the Mediacracy are not the king and nobility makers they used to be.