envelope math indicates that at his current spending rate michael bloomberg will spend roughly $200 million by the iowa caucus or you could have had the senate. >> i call this the bonfire of the billionaire vanities. tom steyer and mike bloomberg are in this race. if they want to do something with all that money burning a hole in their pocket, they'd be out spending $200 million to register voters. they would be out spending $200 million in the swing states and wisconsin and pennsylvania, hammering donald trump to a bloody -- you got bloomberg spending money in los angeles, new york city and miami on television ads right now. the burn rate is spectacular and i don't think it is going to