Obama opts out of public finance

In a move that was widely expected Barack Obama announced today that he is opting out of the federal system of public finance. From MSNBC First Read, an interesting analysis.

This move has been widely speculated, but it’s a reversal from comments he made earlier in the campaign season that he would he accept general funds — which gives the candidates about $85 million to spend after the conventions. Assuming each of Obama’s 1.5 million-plus contributors gives him $100, that comes to $150 million; if they give him an average of $200, that’s $300 million. Campaign finance issues are always debated heavily on editorial pages, but not among voters. Ask McCain how many new votes he’s earned with his support for campaign finance reform. As for McCain, he has to make the choice of 1) taking the federal funds, accepting the fact he’ll be outspent 3-1; or 2) opting out too and get himself bogged down at fundraisers in September instead of doing town halls.

The Obama campaign released a video in which the candidate explains his reasoning in opting out. (And where you will be solicited to give to the campaign.) Link to that video here.

So what does McCain do now>

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4 Responses to Obama opts out of public finance

  1. Jules Gordon says:

    Your Honor,

    This is meaningless. He has choices and picked the best for him.

    How about mixing it up with energy costs. That could have dire consequences for all of us. No solution on the horizon.



  2. Jules Gordon says:

    Your Honor,

    Something is a little different than I thought.

    Saw a video of Obama “promising” to just take public funds. He felt taking private donations makes you beholding to private interests.

    So now he takes the private donations, which I assume, makes him beholding to private interests (his words).

    So, what so different about the Obama?



  3. Bill Manzi says:

    Well I think that Obama can be fairly criticized for his reversal here. It is a decision made on the basis of political expediency, and not principle. In that sense there is nothing different.


  4. Jules Gordon says:

    Your Honor,

    Can we now confirm that the two candidates are flip floppers. I hope that the medium and candidates will expunge that term.

    He flip flopped, no he didn’t flip flop your guy did first…..oh yah, well your guy…..PALEASE.



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