Posted in Main Blog (All Posts) on June 20th, 2008 4:47 am by HL
Obama Opts Out of Public Financing
In a video message to supporters, Sen. Barack Obama announced he would opt out of the public financing system for the presidential election, effectively forgoing more than $80 million in public funds.
Wrote Obama: “It’s not an easy decision, and 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 at gaming this broken system. John McCain’s campaign and the Republican National Committee are fueled by contributions from Washington lobbyists and special interest PACs. 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.”