Obama Seeks Private Funding

[question everything]

Source: The Wall Street Journal


By MARY JACOBY
April 26, 2008; Page A4

Barack Obama is poised to run the first privately financed general-election presidential campaign since Watergate, giving him more control over his own operations than any candidate since 1972. Buoyed by record-setting fund raising, the Democratic front-runner already has laid the groundwork, through seeking a Federal Election Commission ruling, to reject traditional taxpayer funding for a contest this fall against Republican John McCain... Sen. Hillary Clinton of New York, also would be unlikely to take public funding in the general election, several Democratic strategists said.

One reason Sen. Obama is likely to opt out of the system is that he has shown he could likely raise more money privately than the public system would give him. His advisers and other Democrats say he could easily raise $200 million or more for a general-election campaign that kicks off under election rules on Sept. 1. Sen. Obama has shattered all presidential fund-raising records this campaign, raising $95 million in February and March alone.

"I can't see how in the world would come to a conclusion he should take public money," said Jack Corrigan, an elections lawyer who worked for Massachusetts Sen. John Kerry's 2004 Democratic presidential campaign but who isn't advising the Obama campaign. Sen. McCain would have only $84.1 million to spend if he accepted the public grant and its spending limits, as he has indicated he will. But his lackluster fund raising to date suggests that may be more than he could raise on his own.

(snip)

Sen. Obama also will benefit from the efforts of Democratic state and national parties. But given his fund-raising juggernaut, the parties need him more than he needs them. The DNC, for example, had only $5.3 million in the bank at the end of March, compared with the RNC's $31 million. The Democrats' fund-raising deficit is why Sen. Obama recently agreed to set up a joint fund-raising account with the DNC -- to direct some of his donors' money to the DNC, a campaign official said. Rejecting the public financing system also would allow Sen. Obama to more fully fund his own, parallel campaign operations in states where the Democratic Party organization is considered weak, such as Florida.





Read more: http://online.wsj.com/article/SB120916797777146321.html (subscription)

[book_worm]

1. Good! Obama has proved he can raise millions thru small donations

[williesgirl]

2. Why should this expense come from taxpayers when he can raise it? He'd be nuts to take it. rec'd

[graycem]

3. And he needs it to counter

all those nasty swiftboat type attacks the 527's will be running. So of course McCain is going to try and taunt him into taking the public funding. Hope he stands up for himself on this issue. It would be a mistake not to since his funding is virtually an endless supply. I know I've given more than I've given any other candidate, and I haven't given close to what I'll be able to. And with so many small donors we won't reach the cap all the way through November.

[Igel]

11. And the first will be ...

What's already in the RW blogosphere: That Obama challenged McCain to accept public funding, saying he'd take it if McCain would.

Flip.

Then the news that he's going the private financing route, since it'll give him more money.

Flop.

I just hope he hasn't gone on record pushing for mandatory public funding for federal campaigns.

[DeSwiss]

4. And the corporations....

...are pissing their pants.

- And its about damn time....

Go Obama!!! K&R!!!

[Triana]

5. He manages money wisely. I like that in a President.

It's something we've been without for FAR too long now.

[merwin]

6. Wait, so he's the first, but Clinton is also unlikely to take public funding?

That doesn't really make him the first. Or at least, it makes THEM the first candidates since Watergate.

[aquart]

10. No, Barry's first.

And maybe just a wee bit competitive over teeny tiny trifles.

[alittlelark]

7. Major propaganda piece

'Barack Obama is poised to run the first privately financed general-election presidential campaign since Watergate'.


WTF?


What kind of connections are coursing through your brains now?



Sicko hit piece, ppl will drone out on the $$$ issues........WATERGATE.......hmmmm droool......

.......what were you saying?

[Kolesar]

8. 'Barack Obama to run the first privately financed general-election presidential campaign since disco

'Barack Obama to run the first privately financed general-election presidential campaign since unleaded gas'

'Barack Obama to run the first privately financed general-election presidential campaign since George Bush got busted for DUI and cocaine use.'

'Barack Obama to run the first privately financed general-election presidential campaign since Comet Kohoutek'

[aquart]

9. And if he used public funds you'd call him a noble saint.

Oh, hell, you'll call him that anyway.