AP: Former New York City Mayor Michael Bloomberg slammed a potential independent presidential run by former Starbucks CEO Howard Schultz, saying it would help re-elect Donald Trump. He also weighed in on key campaign plans announced by Democrats.



"We need a healthy economy, and we shouldn’t be embarrassed about our system,” he said to reporters after a factory tour. "If you want to look at a system that’s non-capitalistic, just take a look at what was once, perhaps, the wealthiest country in the world, and today people are starving to death. It’s called Venezuela."



Bloomberg, who is considering a presidential bid in 2020, delivered a speech Tuesday to students at Saint Anselm College in New Hampshire. Watch:









