New York, NY —

New York's two declared candidates for president are making light of Mayor Bloomberg's decision to drop out of the Republican party. Senator Hillary Clinton said she understands his choice.

CLINTON: Well I am not surprised by anyone leaving the Republican party these days, and I'll just leave it at that.

REPORTER: Rudy Giuliani says while he's disappointed with Bloomberg's choice, but he respects what he's done for the city as mayor. He also joked about Bloomberg's decision to drop out during a fundraiser last night.

GIULIANI: I was the first Republican elected mayor in New York City where it's 5:1 Democrat, the first Republican elected mayor in 25 years. And I was the first one to remain a Republican in 50.

REPORTER: Democratic party dropout, Senator Joe Lieberman praised Bloomberg. He says the fastest growing political party is no party at all.