Democratic presidential candidate Barack Obama has opted out of the public financing system for the 2008 general election. This is expected to give Obama a significant fundraising advantage in the general election campaign. Both Obama and Republican presidential candidate John McCain previously committed to pursue the possibility of public financing if the other party's candidate did as well.
The public financing system is funded by tax dollars, donated by taxpayers by checking a box on their tax returns to give $3 for public campaign financing. If Obama had opted into the public financing system, it would have given Obama access to $84.1 million to use for the general election campaign, but would have placed him under spending limits. No presidential candidate has opted out of using public financing in the general election since changes made to campaign finance laws in the 1970s.
Lawyers from Obama and McCain's campaigns met to discuss both campaigns opting in to the public financing system, but couldn't agree on terms when it came to spending by both the campaigns and outside groups like the so-called 527 groups that have no spending limits.
The Obama campaign argues that his grassroots fundraising achieves the ultimate goal of public financing to make campaigns less dependent on large donors seeking political influence. McCain's campaign argues that Obama is breaking a commitment and showing that he's not committed to reform.
What do you think about this decision? Should presidential candidates always use public financing, or is it all right for them to be opt out? Should changes be made to the public financing system?
The public financing system is funded by tax dollars, donated by taxpayers by checking a box on their tax returns to give $3 for public campaign financing. If Obama had opted into the public financing system, it would have given Obama access to $84.1 million to use for the general election campaign, but would have placed him under spending limits. No presidential candidate has opted out of using public financing in the general election since changes made to campaign finance laws in the 1970s.
Lawyers from Obama and McCain's campaigns met to discuss both campaigns opting in to the public financing system, but couldn't agree on terms when it came to spending by both the campaigns and outside groups like the so-called 527 groups that have no spending limits.
The Obama campaign argues that his grassroots fundraising achieves the ultimate goal of public financing to make campaigns less dependent on large donors seeking political influence. McCain's campaign argues that Obama is breaking a commitment and showing that he's not committed to reform.
What do you think about this decision? Should presidential candidates always use public financing, or is it all right for them to be opt out? Should changes be made to the public financing system?
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