Obama's Attempts at Presidential Public Financing

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Financial Times reports on efforts by presidential candidate Barack Obama to preserve the opportunity to opt into the presidential public financing system if he becomes the Democratic nominee while still fundraising for the primary and general election as if he were going to be privately financed. It's an interesting commentary on candidates being forced into the big money game in order to remain viable.

 

Public Campaign's President, Nick Nyhart, comments on the maneuver: "Obama is trying to squeeze the last bit of toothpaste out of the public financing tube. [. . .] In practice it is very hard to imagine why Obama would want to accept public funds in 2008 and allow his Republican opponent to outspend him several times over."

 

Clearly, it's time a for a new tube of toothpaste, i.e. reviving the presidential public financing system. Surely a reform that's served voters well since 1976 deserves more than a summary dismissal.