The Case for a Bloomberg-Petraeus Ticket

According to sources, Michael Bloomberg, the former mayor of NYC, may run for president. Bloomberg considered running in 2008, but stopped short after polls showed insufficient appeal. This time may be different.

With Bernie Sanders and Donald Trump leading in polls, Bloomberg believes there is space for a moderate, business-minded candidate. He may be correct.

If Bloomberg decides to run, he should immediately name his running mate: former General David Petraeus*.

Bloomberg and Petraeus would be formidable for three reasons.

• Bloomberg knows business, entrepreneurship, and technology.The American economy is going through a generational transformation. Americans, especially those born before 1980, are concerned that their traditional education did not prepare them for the modern, non-traditional economy. We must re-train workers who are underrepresented in the innovation economy — minorities, immigrants, women, the formerly middle class, veterans, and those a decade or more from retirement. Before he was a jet-setting mogul, Bloomberg was a technology entrepreneur. He built a financial technology empire before people knew about “FinTech.” In the process, he became incredibly wealthy. Shortly after 9/11 — a very uncertain time for many New Yorkers — Bloomberg brought his considerable skill-set to City Hall. During Bloomberg’s mayorship, NYC’s economy diversified — finance was still our home industry, but we became a global hub for technology, entrepreneurship, and innovation. Other than Silicon Valley and Boston/Cambridge, NYC now attracts the most venture capital investment. This did not happen organically; the Bloomberg administration developed a strategic and executable vision. Since leaving office, Bloomberg has doubled down on innovation and renewable energy. In uncertain times, President Bloomberg would be a great economic steward.
• Bloomberg knows cities. Currently, 80% of global economic activity is city-based. This will dramatically increase as emerging market populations continue to rapidly urbanize. American cities, built long ago, are not keeping up. Infrastructure is crumbling. Bridges are failing. The internet doesn’t reach those who need it most. Violence is savaging urban populations. Overall educational achievement is down, and largely divided along socio-economic lines. This stands in stark contrast to NYC, which Bloomberg successfully led for 12 years. During Bloomberg’s tenure, revitalization boomed, new industries were borne, violence dropped to all time lows**, tourism soared, and post-9/11 economic activity accelerated. Think about how President Bloomberg would approach economic revitalization in Detroit, Des Moines, New Orleans, Baltimore, Miami, and Louisville — as well as Lagos, Jakarta, and many other international cities.
• Petraeus knows war. General David Petraeus is widely admired by those who care about national defense, including the military and veteran communities. Petraeus led American forces through the now-infamous Surge in Iraq. Objectively, Petraeus’s time as commander dramatically changed the course of a sectarian civil war. With ISIS on the rise, a Petraeus ticket would immediately capture massive attention and support. The military and veteran communities — together between 12–15% of the voting electorate — would enthusiastically support one of their own. Additionally, sensible foreign policy voters — those between “hawk” and “dove” — would rally behind Petraeus because of his experience and steady hand. Petraeus knows that issues of war and peace should be settled by responsible, well-tempered leaders. Could you imagine a foreign policy debate between Petraeus and Ted Cruz, Martin O’Malley, or either frontrunner?

Historically, third party tickets have not performed well. The Democratic and Republican parties have monopolized national politics, even though an astonishing 44% of Americans identify as Independents. The 2016 cycle is different, though. One party is led by a flashy real estate mogul-turned-television star, and the other party is led by a self-proclaimed socialist.

Between those extremes, many of us crave reasonable, responsible leaders who will steer us through a once-in-a-lifetime economic transformation and the ongoing global response to ISIS. Bloomberg and Petraeus may be the right ticket for the right time.

* I know that General Petraeus pled guilty to a misdemeanor, lost his job, and diminished his reputation. Leaking classified intelligence to your mistress is a big deal. Some people believe this makes Petraeus unqualified for elected office. Other people believe our fight against ISIS requires our nation’s best, and that Petraeus is among them. Either way, shouldn’t we let voters decide?

**Some of Mayor Bloomberg’s policies — notably “Stop and Frisk” — are controversial. But violent crime dropped during his administration.