Former New York Mayor Mike Bloomberg's poor debate performance could be a sign of more problems to come for the 78-year-old media mogul unless he changes his strategy, according to "Fox News Sunday" anchor Chris Wallace.

Wallace told "Bill Hemmer Reports" Friday that Bloomberg appeared "rusty" after being out of the debate spotlight for more than a decade and must change his tune when the rest of the field attacks him.

"What did surprise me was the attacks on him were absolutely predictable," Wallace said. "He knew he would get attacked on 'stop and frisk.' He knew that he would get attacked on his comments about women and the nondisclosure agreements. It was not that he did not respond to them well. He did not respond to them at all."

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"He needs to shift to the offense," the anchor advised.

"And when they are criticizing him for things, he should turn around and say, look, 'I am the only guy on the stage that has created a job. I'm the only man on the stage that ever employed anybody,'" added Wallace, who added that Bloomberg responded to criticism Wednesday by railing against the socialist platform of Sen. Bernie Sanders, I-Vt.

Host Bill Hemmer noted Sanders had told CBS News' "60 Minutes" that Bloomberg would be "chewed up" and "spit ... out" by President Trump in a head-to-head general election debate.

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"[Sanders] is already the undisputed front-runner in the primary. If he wins in Nevada like we expect him to, he is even more so," Wallace told Hemmer.

"But ... let's wait for Super Tuesday. That's when you will really have a sense of whether this will be a race or whether Sanders will lock it up."