Senator Barack Obama announced on Thursday that he would not participate in the public financing system for presidential campaigns. He argued that the system had collapsed, and would put him at a disadvantage running against Senator John McCain, his likely Republican opponent.Now, perhaps Obama should call for the repeal of McCain-Feingold...
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. Obama made his announcement in a video message sent to supporters and posted on the Internet. While it was not a surprise — his aides have been hinting that he would take this step for two months — it represented a turnabout from his strong earlier suggestion that he would join the system. Mr. McCain has been a champion of public financing of campaign throughout his career.
“The public financing of presidential elections as it exists today is broken, and we face opponents who’ve become masters at gaming this broken system,” he said. “John McCain’s campaign and the Republican National Committee are fueled by contributions from Washington lobbyists and special interest PACs. And we’ve already seen that he’s not going to stop the smears and attacks from his allies running so-called 527 groups, who will spend millions and millions of dollars in unlimited donations.”
Thursday, June 19, 2008
From The New York Times:
Posted by LaurenceJarvik at 1:48 PM