Obama: The System Is Broken

By: Maria Gavrilovic
Topics: Barack Obama

(CBS)

From CBS News' Maria Gavrilovic:

(WASHINGTON) Barack Obama announced this morning that he is opting out of public financing in video message sent to supporters.

"I have an important announcement and I wanted all of you – the people who built this movement from the bottom-up – to hear it first," Obama said, "We've made the decision not to participate in the public-financing system for the general election. This means we'll be forgoing more than $80 million in public funds during the final months of this election."

Throughout the video message, Obama called the public financing system "broken" and argued that his Republican opponents are likely to take advantage of it.

"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."

Obama argued that his campaign has already changed the way that campaign funds are raised, noting that the majority of his donations are low dollar contributions. This is an argument that he has made for many months now, although he never definitely ruled out public financing until today.

The decision comes as somewhat of a surprise because Obama has been a staunch supporter of public financing for many years now. After announcing his candidacy in February, 2007, Obama said he would consider participating in the public financing system for the general election. He argued that if both the Republican and Democratic nominee would opt to receive public funding, the system could be preserved.

However, for over a year now, Obama has broken fundraising records often times exceeding even the campaigns own projections. In April, he took in $31 million in one month most of which came from small donations. The campaign projects that they could raise as much a $300 million of the general election.

Update McCain communications director Jill Hazelbaker responds to Obama's announcement with this statement: "Today, Barack Obama has revealed himself to be just another typical politician who will do and say whatever is most expedient for Barack Obama.

The true test of a candidate for President is whether he will stand on principle and keep his word to the American people. Barack Obama has failed that test today, and his reversal of his promise to participate in the public finance system undermines his call for a new type of politics.

Barack Obama is now the first presidential candidate since Watergate to run a campaign entirely on private funds. This decision will have far-reaching and extraordinary consequences that will weaken and undermine the public financing system."

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by downsteamjim June 20, 2008 12:30 AM EDT: Obama says no to lobbyiests or PACs. After all they might crowd his racists and terrorists supporters.; Reply to this comment


by rowdywicca June 19, 2008 11:04 PM EDT: Obama: The System Is Broken

Nahhhhh, just Obama''s gumpass Marxist attitude is broken!; Reply to this comment


by juliekay44 June 19, 2008 10:30 PM EDT: No More Lobbyist!!!!!!

Senator Obama has said many times, "Lobbyist will not run my White House."

Getting rid of the extremely negative impact of lobbyist is one of the major reasons I support Senator Obama.

McCain has flip-flopped on many things. Yesterday he told the citizens of Missouri about a gas tax holiday he knows Congress will never approve.

Prior to McCain''s event in Missouri yesterday, Democratic U.S. Sen. Claire McCaskill of Missouri said in a conference call that McCain''s plan would cost the state 6,000 jobs and $167 million in federal gas tax dollars for Missouri''s roadways.

"The people of Missouri can smell a phony deal a mile away," she said. "Frankly, that%u2019s what John McCain%u2019s gas tax is. He knew it wasn%u2019t going to have any meaningful impact on people%u2019s real pain %u2013 our dependence on foreign oil."

McCaskill said it was "a promise he knew he would never have to deliver on."

The "Could McCain Have Come Up with a More Ill-Suited Economic Advisor Than Phil Gramm?" is one of many examples for the damage caused by lobbyist specifically gas prices and the subprime housing damage.

http://www.alternet.org/election08/87999/?cID=936047#c936047; Reply to this comment


by juliekay44 June 19, 2008 10:17 PM EDT: No More Lobbyist!!!!!!

Senator Obama has said many times, "Lobbyist will not run my White House."

Getting rid of the extremely negative impact of lobbyist is one of the major reasons I support Senator Obama.

McCain has flip-flopped on many things. Yesterday he told the citizens of Missouri about a gas tax holiday he knows Congress will never approve.

Prior to McCain''s event in Missouri yesterday, Democratic U.S. Sen. Claire McCaskill of Missouri said in a conference call that McCain''s plan would cost the state 6,000 jobs and $167 million in federal gas tax dollars for Missouri''s roadways.

"The people of Missouri can smell a phony deal a mile away," she said. "Frankly, that%u2019s what John McCain%u2019s gas tax is. He knew it wasn%u2019t going to have any meaningful impact on people%u2019s real pain %u2013 our dependence on foreign oil."

McCaskill said it was "a promise he knew he would never have to deliver on."

The "Could McCain Have Come Up with a More Ill-Suited Economic Advisor Than Phil Gramm?" is one of many examples for the damage caused by lobbyist specifically gas prices and the subprime housing damage.

http://www.alternet.org/election08/87999/?cID=936047#c936047; Reply to this comment


by anappleadae June 19, 2008 6:36 PM EDT: KYjursisdocto

Wealthy supporters are donating in the name of the not so wealthy supporters. So... who are these wealthy supporters? Are they actually in the United States promoting their support apparatus? Does it matter?

While tax funded Campaigning does further burden the tax payer, Wealthy contributors who bundle donations in the name of others cannot gain influence with their candidate.

Tax supported funding stifles influence peddling. And isn''t today''s Government activity rife with special interest? So... how does this private funding really keep either candidates from being indepted to special interest? And how is this "Change" possible when Obama is taking funds in the manner descibed above?; Reply to this comment


by anappleadae June 19, 2008 6:36 PM EDT: KYjursisdocto

Wealthy supporters are donating in the name of the not so wealthy supporters. So... who are these wealthy supporters? Are they actually in the United States promoting their support apparatus? Does it matter?

While tax funded Campaigning does further burden the tax payer, Wealthy contributors who bundle donations in the name of others cannot gain influence with their candidate.

Tax supported funding stifles influence peddling. And isn''t today''s Government activity rife with special interest? So... how does this private funding really keep either candidates from being indepted to special interest? And how is this "Change" possible when Obama is taking funds in the manner descibed above?; Reply to this comment


by anappleadae June 19, 2008 6:10 PM EDT: If a business owner is actually making a profit is the system broken? If Obama is not getting enough of the business man''s profit is the system broken? If so hasn''t the system been broken for over 200 years?; Reply to this comment


by rowdywicca June 19, 2008 4:41 PM EDT: Obama: The System Is Broken

Same thing Hitler said...; Reply to this comment


by mattcat25 June 19, 2008 3:32 PM EDT: Elections and Democracy are for the People to hold their government accountable.
This year%u2019s election finds the Republican Administration bursting with CORRUPTION, Dishonesty, and overt crimes against our Constitution.

Do Americans want to sustain this type of behavior in Washington?; Reply to this comment


by KYJurisDoctor June 19, 2008 3:32 PM EDT: Why is this NOT a good deal for Barack Obama and us Tax payers that he doesn''t want to use Tax payers money to run for office?

If Obama declines to feed at the public trough for his campaign, why is that NOT a good thing, as long as special interests are NOT funding his campaign?

And has that NOT being the case, since a VAST majority of his campaign money comes from little folks donating a few dollars at a time on the internet?

It sounds to me like John McCain, and others who are taking Obama to task for refusing to limit himself to public money are DEATHLY AFRAID of what his fundraising PROWESS will do to them in the campaign money chase.

Give me a break, already!; Reply to this comment