[Bolduan:] Joe Biden had a rough night, finishing in fifth place in New Hampshire. But he is vowing to fight on. Biden and Elizabeth Warren, a Senator from the neighboring state of New Hampshire, both are getting exactly zero delegates from last night's contest. Now both are focused on South Carolina, Nevada and beyond. What does that look like for these candidates? Joining me now, Terry McAuliffe, the former Democratic governor of Virginia and the former chairman of the DNC. Good to see you, Terry.
[Terry Mcauliffe, , Former Dnc Chair & Former Virginia Governor:] Kate, good to be with you.
[Bolduan:] Biden is entirely focused on South Carolina. They call it their firewall. Does he need to win huge or just win to stay in this now?
[Mcauliffe:] He needs to win. I'd make the argument the same for Senator Warren. They need to win in Nevada and South Carolina. The problem is, Kate, if you're putting everything on South Carolina, that's on February 29th. Three days later is Super Tuesday. You have 15 contests, big contests, California, Texas, North Carolina, Virginia. You can't raise money if you have a win on the 29th, you have Sunday and then Tuesday, there's no opportunity for you at that point to raise any money, go on TV. So they have to begin to show momentum. The debate will be important to both of them. They need to raise money. They need to show they can raise money by TV in these March 3rd states. But you can't just ride in South Carolina. There's not enough time to turn and put your operation in place.
[Bolduan:] That's an excellent place. Let's talk about cash. You're a money guy. What happens? A big unknown that is out there, hanging out there
[Mcauliffe:] Don't tell my wife that.
[Bolduan:] I won't, don't worry. Just you and me here talking. Nobody's listening.
[Mcauliffe:] OK, thank you.
[Bolduan:] What happens when Bloomberg and his millions and millions and millions drops into the race officially after South Carolina?
[Mcauliffe:] None of us have ever seen this before, Kate, in our party. I think it will have a big impact. There's no way a billion dollars or whatever his number is he has over 2000 staff. He's paying them all the way through November. I live in northern Virginia, in McLean. There's an ad every three seconds up in northern Virginia. So that's going to have an impact. It's fascinating. Usually, after Iowa and New Hampshire, this thing is beginning to be winnowed down. It's not. We have five, six candidates that are going to seriously play on Super Tuesday. I mean, you think of Amy and Pete and Bernie. Joe still in and Elizabeth in. Then, you have Steyer and Bloomberg, the two billionaires. But after March 3rd, we're down to two, if three. My guess, with Bloomberg, with his money, he will still be around. Bernie is going to be consistently getting his 25, 30 percent. And then it will be a battle when you have more moderate candidates fighting each other to continue on as we go forward.
[Bolduan:] You talked about Biden, and you mentioned Warren. What is a Warren campaign reset? What does it look like after Iowa and New Hampshire? Is it clear to you?
[Mcauliffe:] I think it's harder for her. Biden has made it clear. And he's leading with the African-American community. So that's a big opportunity for him in South Carolina. You know, it's harder for Elizabeth. I think she has to have a big moment, I think, in the debate. Listen, Amy Klobuchar had a huge moment in the last debate. Pete Buttigieg would have won in New Hampshire. But I think Amy a lot of people, folks in New Hampshire said, I'm either voting for Amy or Pete. And she had a great debate. She needs a great debate moment. I give her tremendous credit. No matter what happens to her, she changed the policy debate. All the candidates have looked to her and she has led on these. But at some point, you have to begin to win states. And now we're coming to a whole slew of states coming up. In the next three weeks from today, Super Tuesday will be over. We will have a much clearer idea. But we have a big muddled field. We have a lot of folks in this thing. This thing could go on for a very long time. Which I don't like. I'd rather see us get behind a nominee and focus on Trump.
[Bolduan:] At some point, it becomes a money problem, right? If don't win, people aren't going to be putting money in your campaign. And you cannot, no matter what kind of smiley face you put on it, you can't continue if you're just racking up debt and you cannot continue to put things on the airwaves
[Mcauliffe:] You can't pay your staff. You can't put anything on the air.
[Bolduan:] That's exactly right.
[Mcauliffe:] And look at California, Texas, North Carolina, Virginia.
[Bolduan:] Yes.
[Mcauliffe:] D.C. is the media market. You can't buy TV. You cannot communicate.
[Bolduan:] That's right, expensive one. Good to you, Governor. Thank you.
[Mcauliffe:] Can't buy CNN TV ads.
[Bolduan:] That's right. Top dollar. Coming up, what about last night's top finishers? Can Sanders, can Buttigieg, can they hold their frontrunner status. Well, they have now Amy Klobuchar nipping at their heels.