Obama Rejects Public Financing

Democratic candidate Barack Obama announced Thursday he won't take part in the public-finance system for the presidential campaign. Obama becomes the first candidate in a general election to opt out of the primary system.

Month after month, Barack Obama has shattered campaign fundraising records. Today he's brought in more than $260 million. And with enthusiasm building, new donors to tap, Hillary Clinton's supporters, for example, and with many of those who've given before eager to give more, the $84 million he'd be eligible for, if he's stuck with public financing, was starting to seen like small change. Which brings us to today's not-so-surprising Obama announcement, contained in a video e-mailed to supporters first thing this morning.

It's not an easy decision, especially because I support a robust system of public financing of elections. But the public financing of presidential elections, as it exists today, is broken and we face opponents who've become masters of gaming this broken system.


America is a country of strong families and strong values. My life has been blessed by both. I was raised by a single mom and my grandparents. We didn't have much money. But they taught me values straight from the Kansas heartland where they grew up...

Democratic Sen. Barack Obama said Thursday he will forgo public money to help finance his general election campaign, a move that frees him to raise unlimited funds from private and corporate donors.


Obama, who has raked in more than $265 million so far, shattering presidential campaign fundraising records, will forgo some $84 million that would have been available to him in the general election. Link