No Public Financing for the Obama Campaign

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According to the NYT

With his decision, Mr. Obama became the first candidate of a major party to decline public financing — and the spending limits that go with it — since the system was created in 1976, after the Watergate scandals.

Mr. McCain, who has been a champion of the public financing system, affirmed Thursday that his campaign would accept public financing.

For one, I am pleased that Obama turned down the public financing.  Of course, I say that contingent upon the fact that he doesn’t accept funds from lobbyists.

If there are questions about the funds Obama has raised to date, visit OpenSecrets.org for full disclosure.

Of course, John McCain is jumping up and down screaming that Obama has gone back on his word.

“Senator Obama’s reversal on public financing is one of a number of reversals that he has taken,” Mr. McCain said in Columbus Junction, Iowa, where he had been touring the floods. “I’m especially disturbed by this decision of Senator Obama’s because he signed his name on a piece of paper, signed his name.”

“This election is about a lot of things but it’s also about trust,” he said. “It’s also about whether you can take people’s word.”

Yet, as the NYT piece continued

In fact, Mr. Obama stopped short of making a flat promise to participate in the public financing system. Asked in a questionnaire whether he would take part if his opponents did the same, Mr. Obama wrote yes. But he added, “If I am the Democratic nominee, I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election.”

Mr. Obama has since said that he would only agree to such a deal if Mr. McCain agreed to curtail spending by the Republican Party and independent groups.

Again, for one, I am pleased that Obama has opted out of public funding.  As seen on the OpenSecrets site, Obama is raising money from us, his 1.5 million donors.  And like it or not, we make one hell of a lobby… and if the President is going to be “beholding” to a group of people, it may as well be the American public. 

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