Congressman Anthony Weiner (D-N.Y.) confirmed reports that he is bowing out of the New York City mayor's race in a New York Times editorial on Wednesday.

And while he attempted to argue that Mayor Michael Bloomberg's (I) gargantuan war chest isn't the main factor in his decision, Weiner kept coming back to it.

For example, Weiner says this about why many have asked him how he will win against Bloomberg:
"All you need to do is see the avalanche of television ads for Mayor Mike Bloomberg, whose huge war chest and incumbency can be daunting. It's also easy to understand the desire to focus on the horse race aspect of a campaign."

Weiner says that isn't the main issue.
"But for me, these have been side issues. What has animated me most during these past months is how much Washington has changed, and the potential for greater movement still. With a progressive sweep in all branches of the federal government, major economic reform, a new energy bill and an overhaul of health care ahead, this is a moment when ideas matter. I've had to evaluate what I could accomplish in Washington if I was in a heated campaign in New York City at the same time."

But Weiner can't help but come back to Bloomberg and his campaign coffer.
"But it's also true that there is no escaping the reality that political campaigns have become longer and more negative, and often seem focused on style and non-issues instead of substance. The mayor is expected to spend $80 million of his own money in the race, more than 10 times what candidates who have not opted out of the city's public campaign finance program.

With spending like that, regular debates about real issues will probably take a back seat to advertising."

And then Weiner turns to how important campaign finance laws are to, well, keep candidates like Bloomberg from spending so much.
"Campaign finance laws are vital, not just to keep special interests from dominating campaigns, but also because in this case they could help prevent vast disparities in spending."

So to sum up: Weiner's decision was about as "personal" as Bloomberg's hefty checkbook.

jeremy.jacobs@thehill.com