Bloomberg’s billionaire status is a problem for his campaign

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Michael Bloomberg’s campaign is gaining ground, and the reason is obvious: He’s spending more money than any other presidential candidate at a very fast pace.

As of last week, Bloomberg shelled out more than $344 million since declaring his candidacy in late November. His advertisements are everywhere, to the point where it’s difficult to avoid them. He employs more than 2,400 campaign staffers at more than 150 campaign field offices, all of which are focused on Super Tuesday states. And as a result, he hit 19% in a national poll this week and qualified for Wednesday night’s Democratic debate.

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