'Aye' And Mighty: Bloomberg's Wish Is Granted<br><br>City Council Passes Vote To Extend Term Limits, Allowing Mayor To Run Again<br><br>Council Approves Proposal By Majority Vote, 29-22<br>NEW YORK (CBS) &#8213; Mayor Michael Bloomberg's bid to run for a third term got the all-clear Thursday when the City Council voted to allow term limits to be extended from 8 to 12 years. <br><br>An emotional and often times outspoken council voted 29-22 in favor of the extension that now allows officeholders three consecutive four-year terms. About two-thirds of the City Council was in their second term.<br><br>In a statement released by Bloomberg shortly after the decision was announced, he said he was pleased with the council's vote.<br><br>"Today, the majority of the City Council decided to give the people of New York a fuller choice in the November, 2009 election. I believe that was the right choice, and I want to thank Speaker Quinn for her leadership. <br><br>"Those of us who work on both sides of City Hall must now move forward with the important decisions that face us, particularly finding ways to soften the fallout from the economic downturn and balancing our budget as revenues decline. We have a lot of work to do together to get New York through these tough times."<br><br>Bloomberg had announced earlier this month his desire to run again, citing the current state of the economy as one of the main reasons why.<br><br>"The question for me has become much less about the theoretical and much more about the practical. And so to put it in very practical terms, handling this financial crisis while strengthening the central services such as education and public safety is a challenge I want to take on for the people of New York," Bloomberg said on Oct. 2.<br><br>Bloomberg was elected two months after Sept. 11 and then cruised to a landslide in 2005 after spending tens of millions of his own fortune. <br><br>Bloomberg's quest survived its first test when the City Council's Committee on Government Operations voted it overwhelmingly out of committee earlier Thursday.<br><br>"I voted yes because this might be the last time to do something that's in the best interest of NYC," said Councilman Peter Vallone Jr. <br><br>It is a controversial issue that has generated a lot of high decibel opposition. <br><br>A diverse group of politicians and activists rallied on City Hall's steps late Wednesday chanting, "Let the people decide!" <br><br><br><br><br><br><br><br><br><br><br><br><br>keep the change

I lived in NYC under Rudi for several years and frankly, loved it. Hated it when Bloomberg was elected. Hated what he and his cronies did to the public schools system. Even if housing costs fell by 80%, Bloomberg would be a reason not to move back. This third term thing sucks.<br><br>BUT...<br><br>If it gives you a wedgie, I LOVE IT!!!!<br><br>