October 2, 2009 @ 3:39 pm
CBS News reports that Mayor Bloomberg has spent $64.8 million of his own money his campaign for a third term. Much of the money has been spent on television ads, which have been running practically every day for several months. Campaign finance laws allows Bloomberg to spend as much as he wants as long as he files all of his expenses. Forbes recently listed Bloomberg’s net worth at $17.5 billion.
Democratic Challenger Bill Thompson has spent about half of the $8 million in donations and matching funds he’s raised for his campaign so far, and has been outspent by Bloomberg at a ratio of 20 to 1. Thompson will use the rest of his funds to make a big push against Bloomberg during the final weeks of the election, but won’t be able to do it without raising his profile now and without the help of supporters.
Bloomberg is not taking questions from the press today, so he won’t be answering questions about his spending or about the anniversary of his decision to overturn term limits.