WASHINGTON (AP) — Billionaire Michael Bloomberg is doubling the already massive amount of money he will spend on advertising, an effort to lift his Democratic presidential bid and capitalize on the chaotic outcome of Monday's Iowa caucuses.

"After more than a year of this primary, the field is as unsettled as ever. No one has made the sale or even come close to it," Bloomberg spokeswoman Sabrina Singh said Tuesday. "Meanwhile, Mike is taking the fight to Trump every day, doubling down on the national campaign strategy we've been running from the beginning."

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