Bloomberg May Spend Up To $1 Billion For Third Party Run
by robliberal, Tue May 15, 2007 at 06:20:09 AM EDT
The Washington Times reports that New York Mayor Michael R. Bloomberg may spend up to $1 billion for a third party run.
New York Mayor Michael R. Bloomberg is prepared to spend an unprecedented $1 billion of his own $5.5 billion personal fortune for a third-party presidential campaign, personal friends of the mayor tell The Washington Times.
"He has set aside $1 billion to go for it," confided a long-time business adviser to the Republican mayor. "The thinking about where it will come from and do we have it is over, and the answer is yes, we can do it."
Another personal friend and fellow Republican said in recent days that Mr. Bloomberg, who is a social liberal and fiscal conservative, has "lowered the bar" and upped the ante for a final decision on making a run.
The mayor has told close associates he will make a third-party run if he thinks he can influence the national debate and has said he will spend up to $1 billion. Earlier, he told friends he would make a run only if he thought he could win a plurality in a three-way race and would spend $500 million -- or less than 10 percent of his personal fortune.
A $1 billion campaign budget would wipe out many of the common obstacles faced by third-party candidates seeking the White House.