June 19, 2008
Obama Opts Out Of Public Financing System
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising
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Barack Obama has shattered president campaign fundraising records, raking in more than $265 million thus far. (AP Photo/M. Spencer Green)
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The Democratic presidential candidate on Thursday became the first presidential candidate from a major party to bypass public funds for the general election since the Watergate era. In so doing, he abandoned his once-stated desire to compete within a system designed to reduce the influence of money in politics.
"This decision could give Obama a huge financial advantage in the general election," said CBSNews.com senior political editor Vaughn Ververs. "By opting out of public financing, he can tap his vast network of small donors who have already given his campaign nearly $300 million. He may be criticized for bypassing a system he has previously voiced support for, but with the amount of money he can potentially raise, it’s a price worth paying for his campaign."
His Republican rival, John McCain, said he would accept the public money for the fall campaign — $85 million available from early September until Election Day — and declared that Obama had broken his word. Obama, who has shattered fundraising records during the primary, is likely to raise far more than the taxpayer-financed presidential fund can supply.
McCain campaign communications director Jill Hazelbaker called Obama a "typical politician who will do and say whatever is most expedient."
"The true test of a candidate for president is whether he will stand on principle and keep his word to the American people," Hazelbaker said in a statement. "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."
Obama promptly showed off his financial muscle Thursday with his first commercial of the general election campaign. The ad, a 60-second biographical spot, will begin airing Friday in 18 states, including historically Republican strongholds.
The Illinois senator has called for public financing of campaigns in the past, but while his new decision opens him to charges of hypocrisy, his campaign advisers understand that issues of campaign finance do not rank high in most voters' minds.
Obama has proven himself to be a prodigious fundraiser who could easily raise more than the public fund supplies. And while he and his advisers know McCain and other Republicans will criticize his decision, they understand that issues of campaign finance do not rank high in most voters' minds.
By releasing his first ad of the general election, Obama also diluted the impact of the money story with a strong visual that was likely to dominate the day's television coverage of the campaign. Obama will draw attention to his finances again on Friday, when his campaign files its May fundraising report with the Federal Election Commission.
His decision represents a significant milestone in the financing of presidential campaigns. President Bush was the first candidate to reject public financing of primaries when he ran in 2000. But no candidate has ignored the general election funds since the law setting up the presidential finance system was approved in 1976.
"It's not an easy decision, and especially because I support a robust system of public financing of elections," Obama told supporters in a video message Thursday. "But the public financing of presidential elections as it exists today is broken, and we face opponents who've become masters at gaming this broken system."
Obama, said McCain, "said he would stick to his word. He didn't."
"This election is about a lot of things. It's also about trust," McCain said. "It's about keeping your word."
Last year, Obama filled out a questionnaire where he vowed to "aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election." But since clinching the Democratic nomination earlier this month, Obama has not broached the subject with McCain. The only discussion occurred about two weeks ago between Obama's and McCain's lawyers.
Obama lawyer Robert Bauer said he discussed the public financing issue for 45 minutes on June 6 with McCain counsel Trevor Potter. In interviews and e-mails, both Bauer and Potter agree that Bauer raised concerns about McCain having a head start because he had secured the nomination in early March and Obama did not until June 3. Potter said he told Bauer that given Obama's fundraising "I was sure there would be no McCain advantage by the end of the summer."
That meeting, Potter said, "was not part of any negotiation" on public financing.
At a breakfast with reporters Thursday, Bauer said that after his meeting with Potter, "It became clear to me, and I reported to the campaign, that there really wasn't a basis for further discussion."
Obama has shattered presidential campaign fundraising records, raking in more than $265 million as of the end of April. Of that, nearly $10 million was for the general election, reserved for spending after the party's national convention in August. McCain had raised nearly $115 million by the end of May, eligible for spending before the convention.
On the other hand, Obama's clear financial advantage over McCain is offset in part by the resources of the Republican National Committee, which has far more money in the bank than the Democratic National Committee. Both national parties can spend money on behalf of the presidential candidates.
Obama said McCain and the Republican National Committee are fueled by contributions from Washington lobbyists and political action committees.
"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 said.
Despite that claim, few Republican-leaning groups have weighed into the presidential contest so far. In fact, Obama allies such as MoveOn.org are the ones have been spending money on advertising against McCain.
McCain and Obama both declined public financing in the primary contests, thus avoiding the spending limits that come attached to the money. McCain had initially applied for the money, however, and has been in a dispute with the Federal Election Commission over whether he needed commission approval to decline the primary election funds. The FEC insists that he does, but has not had a quorum to act because four of its six seats have been vacant pending Senate confirmation of presidential nominees. McCain lawyers have disputed the need for FEC approval.
©MMVIII, CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
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See all 1591 CommentsObama 08!
Well Duh, he''s managed to raise more cash than Hillary and McCain combined.
Obama up by 12 in Pennsylvania
Obama up by 6 in Florida
Obama up by 8 in Ohio!
Obama up by 12 in Pennsylvania
Obama up by 6 in Florida
Obama up by 8 in Ohio!
Posted by briannorwood
LOL! and more from the rights favorite polling source....
Obama%u2019s modest bounce since capturing the Democratic Presidential Nomination is now being reflected in a number of state polls. As a result, the Rasmussen Reports Balance of Power Calculator shows five states shifting in the Democrat%u2019s direction today. Most notable are Colorado and New Hampshire which move from Toss-Up to Leans Democratic. New Jersey moves from Leans Democratic to Likely Democratic, Maine from Likely Democratic to Safely Democratic, and Tennessee from Safely Republican to Likely Republican. Polling released late yesterday shows that Ohio is still too close to call.
When all the changes are made, Obama now leads in states with 200 Electoral College votes while McCain leads in states with 174 votes. When leaners are included, it%u2019s Obama 273, McCain 240. New polling data on the Obama-McCain match-up in Colorado will be released at 5:00 p.m. Eastern today. Data on the state%u2019s Senate race will be released at 3:00 p.m. Eastern.
Even GOP fatcats can smell a buttkicking!
Shouldn''t Republicans be outraged at such welfare proposals?
Again Obama shows his superior logic and judgement
Hey "omega39". your just like the medie..any poll that shows obama up gets top billing ... any poll that has him down gets unnoticed.
the RCP average in florida is Mccain up +5. Do you really think those old white folk in florida are REALLY gonna vote Obama...you can really kiss that state off.
RCP average for michigan Mccain 1.6. Why do you think Obama has been there twice already..he cant win without it.
This polling never accounts for the people who say they will vote for obama, but change their mind as they did in NH, WV, OH, etc.
Typical liberals...assume the people dont pay attention and tell them lies to get elected.
Rasmussen 06/18 - 06/18 500 LV 47 39 McCain +8.0
Quinnipiac 06/09 - 06/16 1453 LV 43 47 Obama 4.0
PPP (D) 03/15 - 03/16 618 LV 50 39 McCain 11.0
the RCP average in florida is Mccain up +5. Do you really think those old white folk in florida are REALLY gonna vote Obama...you can really kiss that state off.
Posted by lilvinnyb
Don''t pay attention to a poll, pay attention to the polling trends. These are the real harbinger of what is likely to happen.
Why should Obama take any suggestions or offers from Republicans seriously?
Now the nation needs Obama to fix this horrible economy that Bush and the Republicans are responsible for.
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising FROM IRAN,HEZBOLLAH,HAMAS,SYRIA AND HUGO CHAVEZ, ALL NOTORIOUS AMERICAS ENEMIES.
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Posted by SgtRDS-E4 at 10:05 AM : Jun 19, 2008"
Assuming his presidential dreams are crushed in November, I wonder if Magoo will face karma and be divorced by his beloved "***" (his pet name for his wife)
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising FROM IRAN,HEZBOLLAH,HAMAS,SYRIA AND HUGO CHAVEZ, ALL NOTORIOUS AMERICAS ENEMIES.
Posted by BagdadsHere2
And of course you have the FEC disclosures to prove your claims, right????
Posted by nelson5714 at 10:08 AM : Jun 19, 2008
Actually I''m betting she''ll dump him for a younger man. One who doesn''t need Viagra.
BARRACK OSAMA SPENDS 30 MILLION DOLLARS PER MONTH ON HIS CAMPAIGNING FOR PRESIDENT KNOWING THAT IF HE WINS HE WILL RECEIVE A 400K PAYCHECK PER YEAR. OF COURSE HE INTENDS TO PROFIT AND STEAL OUR TAXES MONEY.
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising FROM IRAN,HEZBOLLAH,HAMAS,SYRIA AND HUGO CHAVEZ, ALL NOTORIOUS AMERICAS ENEMIES.
Posted by BagdadsHere2
And of course you have the FEC disclosures to prove your claims, right????
Posted by omega39 at 10:11 AM : Jun 19, 2008
Of course America''s biggest enemies are not even on his list, Bush and Cheney. They''ed easily be the most anti-Americans in the bunch.
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising FROM IRAN,HEZBOLLAH,HAMAS,SYRIA AND HUGO CHAVEZ, ALL NOTORIOUS AMERICAS ENEMIES.
Posted by BagdadsHere2
And of course you have the FEC disclosures to prove your claims, right????
Posted by omega39 at 10:11 AM : Jun 19, 2008
BARRACK OSAMA HAS INVENTED A LOT OF UNPROVEN ACCUSATIONS AGAINST THE BUSH ADMINISTRATION. WHY ARE YOU ASKING ME FOR PROOFS? IDIOT.
Posted by omega39 at 10:11 AM
Omega, you know better than to ask a GOPrick for proof. The poor little bugger''''s heads explode.
Posted by dragonwagon5 at 10:13 AM : Jun 19, 2008
Which IS entertaining to watch though.
BARRACK OSAMA SPENDS 30 MILLION DOLLARS PER MONTH ON HIS CAMPAIGNING FOR PRESIDENT KNOWING THAT IF HE WINS HE WILL RECEIVE A 400K PAYCHECK PER YEAR. OF COURSE HE INTENDS TO PROFIT AND STEAL OUR TAXES MONEY.
Posted by BagdadsHere2
Just trying to get you to get your story straight. First his record fundraising was from black welfare ho''s that were forgoing GPS devices on their new Cadillacs and instead sending their checks to Obama. Now you are claiming it is world leaders hostile to America that are responsible.
Posted by rafterman1 at 10:10 AM : Jun 19, 2008
Yep - Bush Fcked it up. Cheers!
Posted by SgtRDS-E4
And probably the richest from bilking the middle class out of their retirements.
Obama wrote: "In February 2007, I proposed a novel way to preserve the strength of the public financing system in the 2008 election. My plan requires both major party candidates to agree on a fundraising truce, return excess money from donors, and stay within the public financing system for the general election. My proposal followed announcements by some presidential candidates that they would forgo public financing so they could raise unlimited funds in the general election. The Federal Election Commission ruled the proposal legal, and Senator John McCain (R-AZ) has already pledged to accept this fundraising pledge. If I am the Democratic nominee, I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election."
Posted by BagdadsHere2 at 10:15 AM
You''d have to be pretty deeply entrenched into their terror network to know this. So how long have you been a terrorist?
Posted by dragonwagon5 at 10:18 AM : Jun 19, 2008
This is COLD ...... ROTFLMAO !
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising, he doesnt need public financing since IRAN,SYRIA,HEZBOLLAH,HAMAS AND HUGO CHAVEZ, all Americas enemies give him lots of money. BARRACK OSAMA spends 30 million bucks per month on his campaign for President knowing that if he wins he will receive a 400k bucks paycheck per year. Doesnt make any sense. Of course BARRACK OSAMA wants to profit and steal our taxes money.
Posted by dragonwagon5
Doh!! What was I thinking.....
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Posted by SgtRDS-E4 at 10:11 AM : Jun 19, 2008"
I agree......and as he signed a pre-nup (courtesy of his beloved c**t''s father) I suspect he won''t get a lot of dough so he will be hawking Depends etc on TV.........strong possibility that his senate seat will be occupied by Janet Napolitano in Jan 2011
Posted by dremn1 at 10:20 AM : Jun 19, 2008
Magoo did not agree to this is simply what happenned here - unless you''re soooo retarded you can''t even read your own posting (Knew you did the copy and paste thing but *** ). Cheers!
Posted by parrot123 at 10:19 AM : Jun 19, 2008
Right! Bush is also responsible for: herpes, lupus, the loch ness monster, the Apollo 1 fire, and the sinking of the Titanic.
Posted by SgtRDS-E4
And probably the richest from bilking the middle class out of their retirements.
Posted by omega39 at 10:20 AM : Jun 19, 2008
Plus their kickbacks and payoffs from from big oil and the war contractors for starting this war for them.
Posted by omega39 at 10:11 AM : Jun 19, 2008
BARRACK OSAMA HAS INVENTED A LOT OF UNPROVEN ACCUSATIONS AGAINST THE BUSH ADMINISTRATION. WHY ARE YOU ASKING ME FOR PROOFS? IDIOT.
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Posted by BagdadsHere2 at 10:14 AM : Jun 19, 2008
Isn''t this just the most pathetic thing you''ve ever read! If I can ever stop laughing, I''ll pity you bagdad. But it will probably be a while, because this is just TOO funny.
P.S. It IS entertaining to watch the heads explode.
Posted by LibH8er at 10:22 AM : Jun 19, 2008"
No need to bring "Nessie" into this - there''s no evidence that ole Nessie has done anything harmful hence Chimpy would not be responsible for it
Democrat Is First Candidate To Reject Funds For General Election; Will Rely Instead On Private Fundraising", he doesnt need public financing since IRAN,SYRIA,HEZBOLLAH,HAMAS AND HUGO CHAVEZ, all Americas enemies give him lots of money. BARRACK OSAMA spends 30 million bucks per month on his campaign for President knowing that if he wins he will receive a 400k bucks paycheck per year. Doesnt make any sense. Of course BARRACK OSAMA wants to profit and steal our taxes money.
blah, blah, blah......
Posted by nelson5714 at 10:21 AM : Jun 19, 2008
She''d be an excellent choice too.
Get the scoop at cindyisawhore.com
Posted by LibH8er at 10:22 AM : Jun 19, 2008"
No need to bring "Nessie" into this - there''''s no evidence that ole Nessie has done anything harmful hence Chimpy would not be responsible for it
Posted by nelson5714 at 10:24 AM : Jun 19, 2008
We could always toss Bush into the water and see?
Mr Obama%u2019s candidacy was given an early boost by his opposition to the Iraq war and he has repeatedly said the US needs to rethink its approach to the Middle East.
Mr Danzig spelt out the need to change by reading a paragraph from chapter one of the children%u2019s classic, which says: %u201CHere is Edward Bear, coming downstairs now, bump, bump, bump on the back of his head behind Christopher Robin. It is, as far as he knows, the only way of coming down stairs. But sometimes he thinks there really is another way if only he could stop bumping a minute and think about it.%u201D
It''s called the stop bumping a minute school of thought. Hahahahaha!
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Thats right, Bush is God Almighty. I am glad you believe too.
Posted by SgtRDS-E4 at 10:26 AM : Jun 19, 2008"
not deep enough - when he''s tossed into the water, I want to be sure that he doesn''t get out.......the MAriana Trench in the Pacific is the best place for Georgie
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