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Associated Press - July 2, 2009 8:15 PM ET
NEW YORK (AP) - New York City Mayor Michael Bloomberg says elections can't be bought.
The billionaire has already spent more than $18 million on his campaign for a third term. He spent $85 million in 2005.
But he defended his right to spend freely at a campaign forum Thursday. He would not agree to a spending limit, and said there's no such thing as an election that is totally fair and equal because every candidate has his own advantages.
The mayor says some people went to better schools, some people are luckier for the families they're born into.
He says he earned every dime he has and has the right to spend it on getting out his message.
Forbes magazine ranks Bloomberg the richest person in New York City and the 17th in the world, with a net worth estimated at $16.5 billion.
One opponent calls him a "billionaire who could care less about us."
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