Bloomberg at home with Bill Clinton

Mayor Michael Bloomberg has been a Republican and he's now an independent. But on Thursday he cozied up to the Democrats' biggest star.

Bloomberg joined former President Clinton at the Clinton Global Initiative conference at a session billed as a BBC debate over global warming.

Instead, the pair were in constant agreement, leaving the host, Zeinab Badawi, playing the role of devil's advocate.

Throughout the hourlong discussion, Badawi persisted with questions based on the argument that addressing climate change will hurt economic growth.

At times, Clinton shook his head, Bloomberg sighed and both interrupted her to try to argue that there are sustainable solutions that are economically good for the private and public sectors, such as energy-saving light bulbs.

Badawi said she was simply representing the position taken by many and reflected in "the Bush administration line about 'We care about global warming, but we care about economic growth.'"

Clinton responded: "We care about economic growth, too. We think it is the way to economic growth."

Then Badawi noted Clinton's now famous mantra _ "It's the economy, stupid" _ from his 1992 presidential campaign.

"That's right," the former president shot back, "and with all respect, I think my opinions on the economy are entitled to at least as much respect as these naysayers that are in control now."

Badawi tried to respond, but Bloomberg interjected: "Remember, he got elected, they didn't," an apparent crack about the disputed 2000 presidential election that sent George W. Bush to the White House.

Bloomberg, who also has been a Democrat, is now a potential third-party candidate for president who is always trying to burnish his nonpartisan credentials. This week, he also spent time with President Bush, who was in town for a meeting of the U.N. General Assembly.