After Super Tuesday surge
Biden gets new boost as Bloomberg drops out
WASHINGTON: Former New York Mayor Michael Bloomberg ended his U.S. presidential campaign on Wednesday and endorsed new Democratic front-runner Joe Biden, whose bid for the White House streaked ahead with a string of electoral victories on Super Tuesday.
The fight to find the Democrat who will face Republican President Donald Trump in the Nov. 3 election, is now looking like a two-horse race between former Vice President Biden and leftist U.S. Senator Bernie Sanders of Vermont.
Bloomberg dropped out after lavish spending out of his own pocket on campaign ads across the United States failed to deliver convincing results on Tuesday, the biggest day of voting in the Democratic nomination campaign with contests in 14 states.
“A viable path to the nomination no longer exists,” Bloomberg, 78, said in a statement. Endorsing Biden, Bloomberg said: “I will work to make him the next president of the United States.”
Bloomberg did not say whether he would spend part of his fortune to help Biden, but the media billionaire’s absence from the race will help the former vice president. Both men appeal to the moderate wing of the Democratic Party.
In a tweet addressed to Bloomberg, Biden wrote, “I can’t thank you enough for your support—and for your tireless work on everything from gun safety reform to climate change. This race is bigger than candidates and bigger than politics. It’s about defeating Donald Trump, and with your help, we’re gonna do it.”
In another move that could reshape the race, Elizabeth Warren, 70, is “talking to her team to assess the path forward,” a campaign aide said.
The liberal U.S. senator from Massachusetts, who was seeking to become the nation’s first female president, had disappointing results across the board on Tuesday, including coming in third in her home state.
A resurgent Biden, 77, rolled to electoral victories across the South, Midwest and New England, setting up a one-on-one battle against Sanders, who won three states and led in California.
Biden, whose campaign had been on life support just weeks ago, won nine of the 14 states voting on Super Tuesday, including surprise victories in Texas and Massachusetts.
U.S. stocks jumped on Wednesday as investors cheered Biden’s good night. The Dow Jones Industrial Average .DJI was up 1.72% and the S&P 500 .SPX rose 1.26%.
Just days after his campaign was resurrected by a thumping win in South Carolina, Biden emerged as a consensus champion for the moderate wing of the party against Sanders a left-wing senator with strong support among youth.
“For those who have been knocked down, counted out, left behind, this is your campaign,” Biden told roaring supporters in Los Angeles. “We are very much alive!”
It was a spectacular recovery for Biden, who trailed Sanders in most state and national opinion polls until a week ago.
Biden argues that after two terms by President Barack Obama’s side and decades as a U.S. senator, he has the experience both to beat Trump and then run the country. He has promised greater access to healthcare and to mend relations with traditional U.S. allies in Europe that were frayed by Trump’s “America First” foreign policy.
Sanders, a democratic socialist, wants to establish a free universal healthcare system and eliminate private health insurance, forgive student loan debt and enact the “Green New Deal” of sweeping economic policies to fight climate change. – Reuters