Josh Kraushaar: Bloomberg endorsement a big asset for Biden's fundraising troubles
Michael Bloomberg's millions going into Joe Biden's campaign is good news for the former vice president, National Journal politics editor Josh Kraushaar says.
Following Mike Bloomberg’s sudden exit from the race after failing to gain traction on Super Tuesday, “America’s Newsroom” panelist Josh Kraushaar explained how the billionaire’s endorsement of front-runner Joe Biden's campaign is a “big asset."
“The Bloomberg endorsement of Biden is interesting, though, because I don’t think Bloomberg has a whole lot of a constituency within the Democratic Party, but he has got a lot of money,” the National Journal politics editor told “America’s Newsroom.”
MIKE BLOOMBERG SUSPENDS PRESIDENTIAL CAMPAIGN AFTER SUPER TUESDAY FLOP
Kraushaar said that Bloomberg’s multibillion-dollar fortune, spent heavily on digital ads, would benefit Biden who has had “trouble in fundraising.”
“He’ll have an easier time fundraising now that he’s the front-runner,” Kraushaar said.
Bloomberg suspended his presidential campaign Wednesday after spending record amounts from his own fortune on an ad-blitz strategy that failed to yield any wins on Super Tuesday beyond a single victory in the American Samoa caucuses.
He immediately announced he would be endorsing Biden, following in the footsteps of other moderate-leaning Democratic presidential candidates who have consolidated support behind the former vice president in his primary brawl against Vermont Sen. Bernie Sanders.
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"I’m a believer in using data to inform decisions. After yesterday’s results, the delegate math has become virtually impossible – and a viable path to the nomination no longer exists. But I remain clear-eyed about my overriding objective: victory in November," Bloomberg said in his statement.
Kraushaar also added that Bloomberg throwing millions into Biden’s campaign makes his endorsement a “big asset because fundraising has never been a Biden strength."
"And now you can have Bloomberg on his side throwing money around," Kraushaar said.
Bloomberg finished well behind on Super Tuesday, despite spending more than a half-billion of his own fortune on his 2020 bid -- centered on a strategy of skipping the early-primary stories in favor of Super Tuesday. To put his investment in perspective, he spent close to the GDP of American Samoa in order to win that contest -- and only that contest.
Fox News’ Paul Steinhauser, Kelly Phares contributed to this report.
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