Varney: Billionaire Bloomberg is the Democrats' new ‘moderate’ hope

The Iowa caucus debacle has opened the “floodgates of despair” among Democrats, FOX Business’ Stuart Varney argued in his latest “My Take.”

“It’s not just the messed up counting that got 'em worried. It’s the dismal performance of Joe Biden, the establishment’s great ‘moderate’ hope,” Varney said.

Biden came in fourth place — possibly worse — while Bernie Sanders won and looks poised to win again in New Hampshire, according to Varney. Establishment Democrats know Sanders cannot win but aren’t so keen on the 38-year-old Mayor Pete Buttigieg either, he added.

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“They are now thrashing around looking for someone, anyone, to beat back the socialist tide that’s taken over the party. And look who has popped up with a billion or two to save their bacon: Mike Bloomberg,” Varney said.

Bloomberg was not in the Iowa race, but by not being there he actually won it, Varney argued. He added that the Billionaire candidate has recently announced that he is going to hire even more staff — adding to his 1,000 employees —and increase his spending beyond the $200 million he has already gone through.

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“Now Democrats understand the irony here and they’re not comfortable with it. The $60 billion man buys the leadership of a party that rails against big money in politics,” Varney argued.

Who else do the Democrats have? Another Hillary Clinton candidacy is not going to happen, John Kerry running would be an act of “sheer desperation” and Michelle Obama is a possibility, but has given no hint of running, he said.

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Aside from Michael Bloomberg, Democrats have nobody who can step in for the party’s “so-called moderates,” he argued.

“It’s a measure of the Democrats’ desperation that Bloomberg is even being considered. That is the state of play among Democrats. That’s what happens when a political party is consumed with hatred for their opponents,” Varney concluded.

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