Dan Henninger: Michael Bloomberg's wealth hurts candidates like Kamala Harris

Wall Street Journal columnist Dan Henninger argued Tuesday that Michael Bloomberg's recent entry in the 2020 Democratic presidential primary makes it "impossible" for less wealthy candidates, like Sen. Kamala Harris, to compete.

“Let’s start calling this the Bloomberg effect,” Henninger told “Outnumbered” in response to Harris' announcement that she was suspending her campaign. “Now that he’s in with all that money, it’s just not possible for someone like Kamala Harris to compete in the Super Tuesday primaries.”

KAMALA HARRIS DROPS OUT OF PRESIDENTIAL RACE

“She was looking forward, I think, to a humiliating loss in the California primary," Henninger added, "and as the freshman senator from California, she probably didn’t want that to happen to her out there.”

Bloomberg formally announced his candidacy on Nov. 24, releasing a video and posting a written statement on his campaign website.

HARRIS' AIDES BELIEVE GABBARD ATTACKS ACCELERATED 2020 WOES

“I’m running for president to defeat Donald Trump and rebuild America,” Bloomberg wrote.

Harris' announcement that she was suspending her campaign came after she failed to capitalize on early enthusiasm and amid collapsing poll numbers.

CLICK HERE TO GET THE FOX NEWS APP

"In good faith, I can’t tell you, my supporters and volunteers, that I have a path forward if I don’t believe I do," Harris wrote in an email to supporters. "So, to you my supporters, it is with deep regret -- but also with deep gratitude -- that I am suspending my campaign today."

Harris launched her campaign in front of 20,000 people in Oakland this past January. Harris is the first woman to be elected Attorney General of California and the first African-American elected to the U.S. Senate from California, causing many observers to view her as a candidate poised to excite the same segment of voters that sent Barack Obama to the White House.

Fox News’ Alex Pappas contributed to this report.