Bloomberg to decide by February on 2020 White House bid

Former New York City Mayor Michael Bloomberg said Sunday he'll decide by February whether he plans to run for president in 2020.

Bloomberg said on NBC's "Meet the Press" that he believes he would make a good president, but that he's not the only candidate who could make a positive impact on the country.

"Everybody wants to know what you're going to do, and the bottom line is I'm not sure yet," Bloomberg said. "I care about a bunch of issues. I care for my kids. I care for this country that's been so good to me. And I want to see how I can help the best."

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Bloomberg, who won elections in New York City as a Republican and independent candidate, said he would run as a Democrat, saying he's "much closer" to the party's philosophy.

The former mayor has visited Iowa and New Hampshire in recent months, fueling speculation he plans to launch a campaign. He is reportedly prepared to spend upward of $100 million on a possible White House bid.

Bloomberg has in recent years donated to a number of causes through his foundation, and has had a strong focus on promoting environmentally friendly policies to combat climate change. The former mayor said Sunday that any candidate running for the presidency "better darn well have a plan" to address climate change.