Michael Bloomberg has officially come out and said it: no, he will not take the plunge into this year's presidential elections.
Howard Wolfson, political strategist and former New York City deputy mayor who served as a counselor to former Mayor Bloomberg, talks about his decision not to enter the 2016 presidential race.
Here's one argument Bloomberg made against his own candidacy:
"As the race stands now, with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz. That is not a risk I can take in good conscience."
Wolfson explained it in this way: while a Sanders-Trump-Bloomberg race would have provided a strong path to victory for Bloomberg, a Clinton-Trump-Bloomberg race would've risked an outcome where none of the candidates secured enough delegates, leaving the choice to our Republican congress.