Obama Again Signals He May Opt Out Of Public Financing

This week we reported on how Democratic frontrunner Barack Obama appears poised to turn down public financing in the general election, the first time a major party has taken that step since the system was implemented in 1974.

"We have created a parallel public financing system where the American people decide if they want to support a campaign they can get on the Internet and finance it, and they will have as much access and influence over the course and direction of our campaign that has traditionally been reserved for the wealthy and the powerful," Obama said Tuesday night.

Now the Associated Press reports that Obama is sending further signals that he is leaning against opting into the public financing system, which he had previously indicated he would take part in.

Calling the present system "creaky," the Illinois senator suggested it needed to be revamped.

"The amount of money raised through the public financing system may be substantially lower than the amount of money that can be raised over the Internet, which presents candidates then with some pretty tough decisions in terms of how they want to move forward if they want to compete in as many states as possible," Obama said in Indianapolis.

If Obama or Hillary Clinton were to accept public financing, they would receive $84 million to use between their official nomination at the Democratic National Convention in late August and Election Day November 4th.

Obama has thus far raised more than $230 million from over 1 million donors.

Despite the comments, Obama says has not yet made a decision on whether to accept public financing in the general election. Presumptive GOP nominee John McCain is expected to opt into the program.