Michael Bloomberg stands for competence in local government. His performance is controversial and disputed, but a case can be made that he did a decent job as mayor of one of the world's biggest cities (New York City).
Bernie Sanders was mayor of a considerably smaller city (Burlington Vermont). His performance is less controversial. By most accounts, he did a good job, but at a significantly smaller scale than New York City.
Following his mayoralty, Sanders moved to elected office in the United States national government, first as a representative and then as a senator. This national experience sets him apart from Bloomberg, who has only local government experience.
Just as business and government are fundamentally different types of organizations (one's purpose is to maximize profits, the other's is to maximize the welfare of citizens), local and national governments are fundamentally different types of organizations. One of the major differences is that a national government issues money, while a local government uses money. A local government is like a business or a household with regard to money. A national government, on the other hand, has the power to create money and does this regularly. Thus, when Bloomberg says, "we can't afford all the programs that Bernie proposes" (paraphrasing), he is revealing his ignorance of how our national monetary system works. Other Democratic candidates, such as Klobuchar and Buttigieg, share Bloomberg's lack of insight into how the national monetary system works.
Please see The Socrates Show, with guest Pete Peterson and Two Great Societal Lies.
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