As expected, Sen. Barack Obama opted out of public financing for the general election. So, what does this mean?
1. Obama has the potential to raise an enormous amount of money. First Read does the math: "Assuming each of Obama's 1.5 million-plus contributors gives him $100,
that comes to $150 million; if they give him an average of $200, that's
$300 million." By contrast, public financing would give him about $85 million.
2. It's clear the McCain campaign was caught off guard that this decision was made so soon. Their initial response was to show Obama as a "typical politician" breaking a promise he made earlier in the campaign.
It's really a long shot gamble that the American public will pay attention to the subtleties of campaign financing.
3. By launching his first general election advertisement on the same day -- and running it in 18 states, including some long shots -- Obama dramatically increased the pressure on McCain's fundraisers.
4. McCain must now decide whether he will also reject of public financing -- or take it and likely be outspent by a large margin.
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Comments
The McCain campaign has not done well fund raising; in response the campaign has joined with the RNC for a shared contribution scheme, along with the $85M in public financing. The Obama campaign has made a significant strategic movement which will leave the right wing fund raising effort in the dust. Bold leadership on display!
Posted by: Lou R
| June 19, 2008 2:32 PM
Obama will have loads of cash to strategically dump into down ballot races late in the game. This decision probably increases our house margin by 5 seats and puts the magic 60 senator number in play.
We should start calling McCain "The Undertaker" because he is presiding over the burial of the Republican Party.
Posted by: artigiano
| June 19, 2008 3:49 PM
I think Obama's decision was sound. The public system is unbalanced. Not only do 527's change everything but even the equal money was given over unequal time periods, so the Republican had the same money to spend in fewer weeks and could spend anything before that. Remember Kerry holding back after the convention? he knew if he spent money before Bush's convention, Bush could outspend him day by day later.
John McCain Voted to Filibuster Minimum Wage Hike
Posted by: hilltopper
| June 19, 2008 5:33 PM
I think Obama's decision was sound. The public system is unbalanced. Not only do 527's change everything but even the equal money was given over unequal time periods, so the Republican had the same money to spend in fewer weeks and could spend anything before that. Remember Kerry holding back after the convention? he knew if he spent money before Bush's convention, Bush could outspend him day by day later.
John McCain Voted to Filibuster Minimum Wage Hike
Posted by: hilltopper
| June 19, 2008 5:35 PM
John McCain is to 2008 as Bob Dole was to 1996. After he loses the election he will become a spokesman for Viagra.
Posted by: A.K. Agikamik
| June 19, 2008 6:10 PM
So much for Obama's call for a "New Kind Of Politics". Expediency and compromising one's values comes to mind. Yeah, a real "Yes We Can" "Time For A Change" fella!
I do not want to hear one more morsel of high minded talk or editorials about the "need" for campagin finance reform. It is dead, courtesy of Senator Obama. I wonder what those Democratic congressman from the Watergate era would think of this? Their 'reforms' done in by one of their own. Ironic, ain't it?
Posted by: minnehot
| June 20, 2008 10:36 AM
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