Obama Set to Ignore Public Financing

There has been much discussion swirling around this topic since Obama pledged to accept public financing if his Republican opponent did the same. McCain has yet to commit either way on public financing so the topic is still up in the air.

However, some news today breaking that Obama appears to be planning on ignoring public financing, story from AOL News:

MALVERN, Pa. (AP) – Barack Obama, whose fundraising prowess has set records, appears to be paving the way to bypass the public financing system in the fall without yet spelling out his intentions.

Last year, Obama indicated he would accept public funds if his Republican opponent did as well. But as John McCain takes steps to accept the $84 million available in federal money for the general election, Obama has been hedging.

This week, he appeared to be making a case that his broad base of small dollar donors is as egalitarian as the government’s public subsidy.

“We have created a parallel public financing system where the American people decide if they want to support a campaign they can get on the Internet and finance it,” he told donors at a Washington fundraiser Tuesday night. “And they will have as much access and influence over the course and direction of our campaign that has traditionally reserved for the wealthy and the powerful.”

Campaign communications director Robert Gibbs said Wednesday that Obama’s remarks were “not a policy statement.” He said Obama merely was trying to underscore the grassroots nature of his fundraising.

But Obama’s point is an echo of an argument made privately by a number of Democratic strategists who believe that if he were to raise his own money in the general election, his base of nearly 1.3 million donors could easily deliver in excess of the amount available from the federal treasury.

Obama has continued raising the millions such as $40 million in the month of March. Not a record, but double Hillary Clinton and more than double John McCain.

On that topic, here’s a Wall Street Journal video report on McCain’s fund raising:

Public financing is going to be a hot topic this election season especially considering McCain, a staunch support of the controversial McCain/Feingold campaign finance reform law, will be the Republican candidate.