Varney: Bloomberg candidacy will put sanity back into Democratic Party

Former New York City Mayor Michael Bloomberg entering 2020 is a "game-changer," Stuart Varney said.

Former New York Mayor Michael Bloomberg is preparing to enter the 2020 presidential race.

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The 77-year-old politician will run against current Democratic candidates with a capitalist mindset and $50 billion net worth, FOX Business’ Stuart Varney said.

“He’s a grenade, chucked right into the Democrat race,” Varney said. “In politics, a man with all that money is a game-changer. Just by taking the first step, Bloomberg has already changed the game.”

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Varney said the entrance of Bloomberg into the race will cause a complete division split, based on the current candidates’ strong campaigns for anti-wealth.

“Front-running Democrats, Warren and Sanders… rail against the rich but now they have one of the richest people in the world running against them, from inside their own party,” he said on Friday.

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Bloomberg is considered a moderate, as well as Joe Biden. Varney said this is a “huge problem” for Biden, being that Bloomberg is the stronger of the two.

Former New York City Mayor Michael Bloomberg speaks in Las Vegas. Feb. 26, 2019. (AP Photo/John Locher, File)

Varney believes Bloomberg will put gun control at the forefront of his campaign since he’s already spent millions doing so. According to Varney, he wants a “well-run, efficient, capitalist economy.”

“That means forget a wealth tax,” he said. “Forget Medicare-for-all. Forget the Green New Deal. Forget massive, crippling tax increases.”

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A member of Bloomberg’s political team said that Bloomberg himself thinks a “multi-billionaire, Jewish, New Yorker” presidency is a long shot.

But Varney believes, “Wall Street will like him,” especially since he believes Bloomberg will reveal the Democrats’ discomfort with noisy socialism.

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“If anything, Bloomberg will put some sanity back into the Democrat party,” he said. “A party which bases its appeal on hating the rich now has to contend with a powerful Democrat candidate who is extremely rich.”