Thursday, June 19, 2008

Obama Not Taking Public Funds For Campaign

Image via New York Magazine

Barack Obama has turned down $84 million in public funds for his presidential campaign. He is the first presidential candidate to do so since the introduction of the current public financing system shortly after Watergate. Had he accepted the $84 million, he would have been limited to using only that money in the months between the DNC and the election. Instead he can dig into the vast war chest he's amassed since his campaign began.

He's catching some hell from the McCain campaign, because Obama had initially decided to accept public funds if McCain did the same. While McCain hasn't officially announced whether or not he will, he is expected to. McCain has raised $96 million during his campaign, compared to the $265 million raised by Obama.

It's a shrewd move by Obama. It gives him the possibility of outspending McCain in the crucial final months before the election while allowing him to be able to tell voters "I'm not doing this on your dime." It's the best of both worlds; he can look like a populist while actually having boatloads of cash at his expense.

As for the flip flop that the McCain camp brings up, this guy thinks McCain needs to stop hating and get money.

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