Obama Poised To Turn Down Public Financing

This story was written by CBSNews.com political reporter Brian Montopoli.

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Eighty-four million dollars sounds like a lot of money to spend in just over two months. But for Democratic frontrunner Barack Obama, it may not be enough.

Obama, like presumptive GOP nominee John McCain, is eligible for public financing should he be named his party's nominee. But if he takes the money, which would be allocated after the Democratic National Convention in late August, Obama would have to agree not to raise or spend money on top of what the government has provided. And Tuesday night, the Illinois senator indicated that's a deal he may well turn down.

"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," Obama said at $2,300-per-person fundraiser in Washington D.C., "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's "parallel public financing system," of course, is his robust fundraising apparatus. The Illinois senator raised an $40 million in March, bringing his total to more than $230 million; McCain, by contrast, took in about $15 million last month and has only taken in about $75 million overall. Hillary Clinton has also raised large sums - more than $175 million so far - and has said she would opt out of public financing.

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The Money Race
Check out February tallies for Clinton, Obama and McCain, including how much they've raised and spent since the campaign began.

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Perhaps it's no surprise, then, that while Obama appears to be shying away from public financing, McCain's advisors tell CBS News the Arizona senator is likely to embrace it - something every major party candidate has done in the general election since the system was created in 1974.

Obama didn't always feel this way. Last March, Obama spokesman Bill Burton said the candidate would "aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election." Obama also told the Midwest Democracy Network, in a questionnaire, that he would participate in the system, writing that he had proposed a system in which "both major party candidates...agree on a fundraising truce, return excess money from donors, and stay within the public financing system for the general election."

The Obama campaign has since suggested that Obama never vowed to take public financing, with Burton stating on Feb. 17 of this year that "there is no pledge." But McCain has hammered Obama for what he says is a clear case of the senator potentially breaking his promise.

"We both made a commitment to take public financing. There's nothing to talk about. We either keep our word or we don't keep our word," McCain said in New York Wednesday.

"Obama is trying to claim the moral equivalency ground by saying his broad base of individual small dollar donors is roughly the same thing as public financing," said Rogan Kersh, associate dean of New York University's Wagner School of Public Service. "McCain is trying to say he promised to do one thing and now he's doing another. Obama is really hoping that he can make the moral assertion as opposed to being seen as a hypocrite or a flip-flopper."

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[syofie]

Another example of Obama''s lies. He said he would accept public financing, now he says he won''t. He said he never heard Rev. Wright''s anti-US, anti-White, anti-Jewish sermons, then he said he did. He said he was born during a civil rights march, but the facts show he was born 4 years before. He refuses to wear a US flag lapel pin, won''t put his hand over his heart for the pledge of allegiance, and his wife has never been proud of the US till now, yet, he claims to be patriotic. All the pro-Obama media knows how to do is praise Obama like a "God" and deliberately, willfully and unmercifully trash Hillary.

[justinajj]

When put to the test, Obama doesnt follow through. I am not surprised, for the limitted time he has been in office he has misspoken, justified, made excuses and blamed his employees/volunteers at a rate that would make the Clintons jealous. Guess it was easy to endorse campaign reform and pledge to use public financing when he was the underdog, but now that he has the advantage, he may not have the character to follow it through. How typical of a politician. And that is what Obama is after all--a politician.

But I will still back the Democratic candidate whoever it maybe, because across the board, neither of them are as bad as having McCain in the White House in my opinion.

[libh8er]

I can''t believe it....a black man is turning down public financing! LOL

[lordmi]

to FrancisKDeVo : You are funny. Or blind. Or out of mind.
Hillary is the worse scenario for the country with her disability to manage , false and mess wherever she steps and Liar Bill around.
No clintons .
NEVER.

[mudrose-2009]

Correction those Talk Shows were NOT Air America.

[lordmi]

Yes, we do WANT to donate our candidate to make it happen.
We do NOT want public finances.
We can make it by ourselves.

If McCain can not count on his voters - than why to run?

this is national election.
We have a right to support and we will.
We will support Obama as much as we can.This also our way to vote.

I am "typical white woman" age of 55.
I have very low income,around 20 grand a year.
And I will support Obama with my little dollars.
I have to do it for my kid''s future .

[mudrose-2009]

Continuation of Socialism 101
Democrat/Socialist/Progressive/Whatever Offensives

If you tell truths - you are a "liar".

If you are against moral relativism - you are a "homophobe".

If you mention B. "Hussein" Obama''s middle name - you are "racist".

If you mention anything the Rev. Jeremiah Wright says - you are a "bigot".

If you show respect for our military and those that honorably served their country - They and you are "Warmongers".

Now don''t forget the Seig Heils, Shrub, Bushshit, etc. I''m still compiling - stay tuned there will be more coming down the pike. However, don''t forgot on the Democrat/Socialists/Progressives/Whatevers are allowed to say anything they want.

Incidentally to those who feel that Talk Shows are for the "Sleep Walkers" people who listen to talk radio during the day, like mindless janitors, etc. not professionals -- Air America''s Randi Rhodes had to go because the MFB (Mother Fnnn B/itch) used profane language. What on a Lefty Talk Show? Also the Talk Shows were the reason why congress was flooded with calls demanding that the borders be closed. And those Talk Shows were Air America, etc.

[mudrose-2009]

Part II

Call his Internet contributors a "parallel financing" system. Actually B. Husein lives in an alternate Universe. He is George Soros''s Water boy which is why he can smile in his arrogant way with his little behind up in the air, rather smug because he knows who his pimp is. There is a real parallel funding system ready to support B. Hussein Obama. It''s called George Soros and so-called 527 groups such as the Democrat-supporting Fund for America or the newly named Progressive Media Fund founded by none other than a guy of questionable sexual orientation by the name of Brock. Then there is Bagala. That makes for the Divine Trinity of backers for B. Hussein Obama. Soros, Brock and Bagala. Progressive Media recently announced that it plans for a $40 million four-month campaign against Mr. McCain, and that''s only one group. They are going to smear McCain through the 501(c)s since you can''t identify the donors that way. So while B. Hussein Obama is attempting to preserve his reputation as a reformer, he''s exploiting his new financial advantage. My, my we are all beginning to learn how expansive the meaning of "change" is. Wonder why CBS didn''t mention it.

[mudrose-2009]

Obama is not the "change agent he proports to be. He is just another sleazy Chicago politician opperating in his own best interest. Of course he doesn''''t want to stick to his agreement to use public funds if the GOP candidate did. He has Oprah''''s money behind him. The sky''''s the limit. Obama is all talk no action. Hillary would be the better choice for us. She is smart, tough, hardworking and vetted.
Posted by ksh1022

Socialism 101
Part I

No, actually he really is the Manchurian Candidate. In November B. Hussein Obama said he would accept public financing for the general campaign if John McCain committed to public funds. Now he doesn''t want to be tied down by the spending limits attached to public funds. This is embarrassing. Solution:

[jockh]

The Clintons are tight fisted money grabbers. Despite lining their pockets with 109 MILLION, Hillary merely LOANS her campaign 5 MILLION. Why doesnt she GIVE it to her campaign instead of LOANING and put her money where her mouth is? After all, other candidates like Mitt Romney put millions of their own money into their own campaigns.

That way she would be showing that she has complete confidence in herself and her campaign and this in turn would encourage other donations.

However, she loans instead of gives to her own campaign because she knows she is going to lose so she would rather lose donors money in her futile campaign and keep all her millions nice and safe; so she can sleep in a solid gold bed with a mattress stuffed with 100 dollar bills. And solid gold pant suits for herself and Chelsea !!