THE GROFF/ELLISON POLITICAL REPORT

Obama says No to Public Finance

Posted in Uncategorized by groffellison on June 19, 2008

Sen. Barack Obama, who has generated record amounts of funding from a grassroots movement, has decided to forgo public financing for this presidential campaign.  A decision that could cost him $85 million in public funding but open up other coffers. 

By opting out of the program Obama will be able to use an unlimited amount of money in his race against Sen. John McCain in a race that should be incredibly close.  In the fund raising race Obama has consistently out raised McCain and should be able to continue to do so and outspend him as well.  McCain, who has struggled in raising money, chastised Obama for being a “typical politician” and questioned Obama’s commitment to change.   

The decision is an historic one as Obama becomes the first major candidate to make this decision since the programs inception in the mid-1970’s. 

 

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