BIG MONEY

Bloomberg's $65M Spending Spree

Outspends Dem opponent more than 16 to 1.

It hardly seems sporting. Billionaire New York Mayor Michael Bloomberg is taking no chances on his reelection this year, already dropping $65 million of his own money to power his race against the city's Democratic comptroller, Bill Thompson, who has only spent $3.8 million. The spending spree puts Bloomberg, who already has two similarly priced campaigns under his belt, on a record pace to finish in November with most expensive election in New York history. But government watchdog groups are concerned Bloomberg's cash advantage could have terrible implications for democracy. “It badly distorts the city’s democracy to have one candidate spend his own money like a drunken sailor—or more accurately, like a million drunken sailors,” said a staff attorney for the New York Public Interest Research Group.