Why Americans Lose Elections

Michael Bloomberg, billionaire, has spent more than a quarter of a billion dollars on political advertising in the last three months for what amounts to a vanity run for the presidency. Tom Steyer, billionaire, has spent $200 million. That’s half-a-billion dollars of spending by two oligarchs who have absolutely nothing in common with the rest of America. And that’s just the beginning. Bloomberg, in particular, seems willing to spend whatever it takes in an attempt to win the Democratic Party’s presidential nomination. After the Iowa caucuses, Bloomberg vowed to double his spending.