Mike Bloomberg in Council on Foreign Relations
On Budget & Economy:
Proponent of the free market and balanced budgets
Bloomberg is a proponent of the free market and balanced budgets, and he has expressed doubt about the tax and spending plans of some other candidates. He calls for investment in infrastructure and job training to boost U.S. competitiveness.
He is skeptical of the ambitions of some other Democratic candidates to dramatically increase wealth redistribution, comparing the proposals of Bernie Sanders and Elizabeth Warren to Venezuelan economic policies.
He has previously referred to himself as a fiscal conservative and has long been a proponent of balanced budgets and spending restraint.
He is a critic of recent attempts to tighten financial regulation, calling the Dodd-Frank Wall Street
Reform Act passed after the 2008 economic crisis a "stupid law" and arguing that its fines on big banks have been "outrageous." He also opposes proposals to break up "too big to fail" banks.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Foreign Policy:
System of alliances achieved peace & democratic progress
Bloomberg calls Trump's approach to diplomacy "incompetent" and "counterproductive," arguing that it is alienating the United States, insulting allies, and flattering adversaries. He says that commitment to the system of alliances the United States
helped build after World War II should be bipartisan, since that system has helped achieve peace, democratic progress, and economic growth. Both as mayor and through his philanthropy, he has furthered his vision of diplomatic engagement with heads of
state, city representatives, business leaders, and organizations around the world.
He has worked closely with the United Nations, especially on climate. In 2014 he was appointed a UN special envoy for climate and he has helped to organize
UN climate summits.
Bloomberg Philanthropies has worked with global institutions such as the World Health Organization and with national governments on its public health initiatives in areas such as disease prevention, nutrition, and family planning.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Foreign Policy:
Don't recognize Crimea annexation; do extend START treaty
Bloomberg argues for stronger measures to counter Russia while also calling for fresh negotiations with Moscow on arms control.He says that lifting any sanctions on Russia or recognizing its annexation of Crimea would be "a monumental mistake."
He argues that Washington must continue providing Ukraine with lethal aid for it to defend against Russian aggression and maintain faith in U.S. security guarantees.
He has called Putin a "strongman" who seeks territorial expansion and the
destabilization of Europe and who has abetted war crimes in Syria by supporting Bashar al-Assad's government.
He opposes the planned Nord Stream 2 gas pipeline between Russia and Europe, arguing that it would give Putin increased leverage over
European countries.
He calls for talks with Russia to extend the New START treaty, a nuclear arms reduction agreement set to expire in 2021, as well as to revive the Intermediate-Range Nuclear Forces (INF) treaty.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Foreign Policy:
Saudi Arabia's modernization is going in the right direction
Bloomberg's views on the Middle East have focused on his close ties to Israel, his ambivalence toward the 2015 Iran nuclear agreement, and his support for Saudi Arabia's modernization efforts.Bloomberg hosted Saudi Crown Prince
Mohammed bin Salman in New York in 2018 and he has praised Saudi Arabia for its reform efforts, especially its expansion of women's rights, saying the country is going "in the right direction."
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Foreign Policy:
Trump coddles Russia; they intruded in 2016 election
Bloomberg accuses Trump of "coddling" President Vladimir Putin and failing to stand up to him over Russia's interference in U.S. elections. He argues for stronger measures to counter Russia. He says that Trump is in a "state of denial" about
Russian interference in the 2016 U.S. election, which Bloomberg calls "a hostile power's intrusions into U.S. sovereignty."
Source: Council on Foreign Relations on impeaching Trump
Dec 24, 2019
On Free Trade:
Trade with China is good for consumers & the US economy
Bloomberg has been a proponent of deeper trade and investment ties with China and he opposes President Trump's trade war with Beijing. He says the US must work closely with China on climate change and other issues, and has drawn scrutiny for his
business relationships in the country.He has advanced a more moderate view of China's leadership than some other candidates, saying in 2019 that Chinese President Xi Jinping is "not a dictator" and that Beijing is making progress on climate goals.
He opposes Trump's trade war with China, calling it a "failure of our government" and arguing that it is hurting the economy, costing jobs, and slowing innovation. He says China's unfair trade practices need to be addressed through negotiation.
He argues that trade with China is good for consumers and the US economy, but that China needs to further open its markets to US companies. He has previously said that expanded trade puts pressure on Beijing to "act responsibly" on the world stage.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Free Trade:
Supports TPP and opposes trade war with China
Bloomberg argues that free trade with China and others is not a "zero-sum game" and is instead good for consumers and the U.S. economy. He has also said that expanded trade puts pressure on Beijing to "act responsibly" on the world stage.
He supported the Obama administration's Asia-Pacific trade deal, the Trans-Pacific Partnership, which Trump rejected.
He opposes Trump's trade war with China, arguing that it is hurting the economy, costing jobs, and slowing innovation. He calls for China to further open its markets to
U.S. companies and says that its unfair trade practices need to be addressed through negotiation. He has argued in the wake of Trump's imposition of tariffs that Congress should exert more oversight over presidential trade powers.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Free Trade:
Vocal defender of global trade and multinational trade deals
Bloomberg is a vocal defender of global trade & multinational trade deals. "International trade plays a vital role in addressing global challenges," he says. He supported the Obama administration's Asia-Pacific trade deal, the Trans-Pacific Partnership,
which Trump rejected. Through his US-Africa Business Forum, he has been a proponent of expanding trade and investment ties with African countries. Bloomberg Philanthropies also brings together government and business leaders to promote trade.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Homeland Security:
Expanded surveillance kept NYC safe from terrorists
On counterterrorism: Bloomberg touts his mayoral record, crediting his counterterrorism policies with keeping New York City safe from terrorist attacks. His expanded surveillance measures and other efforts sparked debate over how to balance security
with civil liberties. His administration's approach to counterterrorism was controversial, with his increased surveillance measures drawing criticism for relying on racial and religious profiling and violating civil liberties.
In the wake of the 2013 Boston Marathon bombings, he argued that "our laws and our interpretation of the Constitution,
I think, have to change" to accommodate increased surveillance and other restrictions necessary to ensure public safety.
He argues that technology companies should be required to cooperate with government investigations by sharing customer data.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Homeland Security:
Argued against increasing military spending
Bloomberg has taken few stances on defense issues, but he has argued against increasing military spending. As mayor, he pursued a range of initiatives to help veterans. He has argued that overall military spending is "about where it should be," and
dismisses claims that significant Pentagon budget increases are needed to sustain military readiness. He says the focus should be on developing high-tech equipment and "an effective cyberwar service."
He advocates for a new congressional authorization for overseas military operations, many of which currently rely on two-decade-old legislation, to put them "on sound legal footing."
He points to his mayoral record on veterans' issues.
His administration's programs included job placement and career assistance services, a veteran-run job center, and a joint program with the Department of Veterans Affairs to combat veteran homelessness in New York.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Immigration:
Fix the country's broken immigration system
Bloomberg is a vocal proponent of increasing immigration, arguing that it boosts growth, job creation, and innovation. He promises to fix the country's "broken" immigration system, and he backs a comprehensive reform to strengthen border security,
legalize undocumented residents, and greatly expand work visas. He is opposed to Trump's proposals for expanding the border wall with Mexico and he criticized Trump for using a government shutdown as leverage to try to win funding for the wall.
He has condemned Trump's border policies, especially the "shameful" separation of families and the detention of children. "That is not who we are as a nation," he says.
He supports the DREAM Act, which would grant legal status to undocumented
residents who were brought to the country as children, and opposes Trump's attempts to end the Barack Obama-era program to halt their deportation, Deferred Action on Childhood Arrivals (DACA).
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Immigration:
Closing the door to immigration would be national suicide
Bloomberg is the founder of New American Economy, a pro-immigration research and advocacy group. He told CFR in 2011 that closing the door to immigration would be "national suicide" because immigrants create jobs and drive innovation.
He argues that undocumented immigrants are net contributors to the United States, paying more into Social Security and the tax base than they use while committing less crime compared with the national average. He said he backs an immigration
compromise that would combine better border security, which he calls "critically important," with a pathway to permanent legal status for the United States' estimated eleven million undocumented residents.
He favors allowing foreign students who
graduate from U.S. universities to stay in the United States, as well as offering visas to foreign entrepreneurs. He wants to end the cap on H1B visas for high-skilled immigrants and is in favor of expanding visas for low-skill labor.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Technology:
Crumbling infrastructure undermines global competitiveness
Bloomberg calls for investment in infrastructure and job training to boost U.S. competitiveness.
He says "crumbling infrastructure," including roads, airports, and energy grids, is undermining U.S. global competitiveness.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On War & Peace:
Supports Israel's military response to Gaza rocket attacks
Bloomberg is a strong supporter of Israel, where he visited often as mayor. In 2014, he defended Israel's right to respond militarily to rocket attacks from Gaza and flew his private jet to the country to show solidarity after US regulators temporarily
barred commercial flights there. He backs a two-state solution to the Israeli-Palestinian conflict. He has denounced the Boycott, Divestment, and Sanctions (BDS) movement, which seeks to punish Israel for its treatment of Palestinians, as "an outrage.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On War & Peace:
Deep reservations that 2015 Iran nuclear deal wasn't enough
Bloomberg's views on the Middle East have focused on his ambivalence toward the 2015 Iran nuclear agreement. He expressed "deep reservations" about the
2015 Iran nuclear deal, saying that its restrictions on Tehran's nuclear program didn't go far enough and blaming the Obama administration for "smearing" the deal's critics.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On War & Peace:
Supported 2003 Iraq War, as response to 9/11
Bloomberg supported the 2003 U.S. invasion of Iraq, framing it as a response to the 9/11 attacks.
He later grew critical of the war, though he consistently opposed congressional attempts to put a timetable on the withdrawal of U.S. forces.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On War & Peace:
No attractive military option against North Korean nukes
Bloomberg's brief comments on North Korea have focused on the need for strong U.S. alliances, which he says Trump has weakened. He says that dealing with a "rogue state" such as North Korea requires close relationships with other countries
in the region, and that Trump has undermined U.S. alliances. He says there is no "attractive" military option for responding to North Korea's nuclear program.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
On Welfare & Poverty:
Mayors Challenge: grants to cities for improving urban life
Bloomberg has cited Venezuela's economic collapse as a cautionary tale about socialism in his criticisms of the economic policy proposals of fellow Democratic candidates
Bernie Sanders and Elizabeth Warren. In 2016, Bloomberg Philanthropies launched a Mayors Challenge program in Latin America and the Caribbean, which issues grants to cities with innovative ideas for improving urban life.
Source: Council on Foreign Relations on 2019 Democratic primary
Dec 24, 2019
Page last updated: Mar 16, 2022