Election 2008

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Alex Brandon/AP
Democratic presidential candidate Sen. Barack Obama, D-Ill. greets labor leaders prior to
the start of an economic round table discussion, Thursday, June 19, 2008, in Washington.
(AP)

Obama to Fund Campaign Privately

June 19, 2008 04:36 PM
by Lindsey Chapman
Democratic presidential candidate Barack Obama announced that he does not plan to use public funding for his campaign.

30-Second Summary

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By not accepting public funds Barack Obama has given himself the opportunity to raise as much money as possible through private donations.

So far in the campaign process, Obama has “smashed records for fund-raising, largely on the success he achieved in raising money over the Internet,” according to Reuters.

Obama said his choice was “not an easy decision,” because he favors “a robust system of public financing of elections.” However, he called the public financing of elections today a “broken system.”

Previously, Obama stated that he would accept public funds for his campaign if John McCain agreed to do the same. But he said it has become apparent that Republican presidential contender John McCain is “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.”

The Federal Election Commission does not regulate 527 groups, which are tax-exempt organizations.
 
Meanwhile, John McCain’s campaign financing is also under the microscope. The Democratic National Committee recently announced that it plans to file a lawsuit to force the Federal Election Commission to examine whether McCain broke election laws by rejecting $5.8 million in taxpayer money. Turning down the funding enabled McCain to avoid some strict spending limits in his campaign.

Headline Links: Campaign funding decisions

Related Topic: Investigating John McCain

Reference: Election 2008

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