Senator Edwards' funding limitation

[Kolesar]

Since he accepted public financing, I believe there is a cap on the amount of money he can raise. Dean and Kerry were the only candidates who declined public financing. With Dean dropping out, does that mean that if we want a candidate who can legally raise a huge campaign warchest to fight Bush it has to be John Kerry? Has the candidate been decided for us already?

What is the public financing situation?

[SangamonTaylor]

1. yes, I would like to know more about this as well.

[cheezus]

2. issue ads and 527s

I think the money is still there to back Edwards, but it won't go through him.

I really wish we had sane finance laws.

[democratreformed]

5. Some new info

I haven't read it all yet. Just thought I'd pass it along.

Link: http://www.start.earthlink.net/newsarticle?cat=9&aid=D80PQBSG1_story

Headline is: FEC Mulls New Limits on Big Donations

[SeattleDem]

3. just for the primary, right?

I think the primary and general election are separate. If he accepted public funding now, it's just for the primary.

If he wins the nomination, he can choose again whether or not to take public money and thus have to abide by the spending caps.

It wouldn't make sense to have to declare during the primary your intention regarding public financing of a general election when you have not yet been made the candidate!

on edit: someone please tell me if I'm wrong!

[Kolesar]

4. no, I don't think it is just for the primaries

This is a situation I heard described on broadcast tv or radio a few months ago. With Dean out, it is a serious consideration.

[SeattleDem]

7. best link I could find

is to this AP article about Clark, but it says repeatedly that the acceptance of public funds is for primaries (which, to me, implies it's not for the general election)

http://www.mercurynews.com/mld/mercurynews/news/politics/7260294.htm
Wesley Clark, the latest entrant into the Democratic presidential race, has decided to give his campaign a cash infusion by accepting public financing for the primaries.The decision announced Thursday means Clark will be limited to $45 million in overall primary spending and face state-by-state spending caps.

on edit: okay, this is really the best link! :-)
http://www.fec.gov/press/20031204matching.html
EDWARDS SIXTH PRESIDENTIAL CANDIDATE DECLARED ELIGIBLE
FOR PRIMARY MATCHING FUNDS IN 2004 RACE

[Kolesar]

8. Good work--there is an overall spending limit

From that FEC site: "Other requirements to be declared eligible include agreeing to an overall spending limit" -- I have a bad feeling it is a cap of around $50 to $100 Million.

[AP]

6. Senator Edwards's message preservation: having the most money isn't

a good thing.

Imagine Kerry and Bush slugging it out. A 500 milionaire (Kerry) vs a 10 millionaire (Bush).

If you want to turn off the working class, that's the formula.

Now imagine Edwards vs Bush. He will make the inevitable funding shortfall vs Bush into an ASSET.

[Kolesar]

9. If Nominee Edwards picks Dean for VP, can use Dean's nonpublic status

to go for unlimited funding? Ok, this is a wild wacky idea, I doubt if it is legal.

[elsiesummers]

10. Matching just for the primary but,

the problem is that late in the primary, when the nominee had been selected but the general election, technically, had not begun, Gore's primary fund was bone dry, so he couldn't fight back against attacks by Bush.

Apparently the 527's will help fill the gap - but yes there are questions about the size of the donations allowable.

I believe that Bush took matching for the General Election last time. Since the time frame is so short, would expect that again, but who knows? Maybe this is where the Democrats could surprise and outdo Bush late in the game, by not accepting funds at a point when Bush is.

Here is a question: If Dean chose to support Edwards some time prior to the nomination, could Dean continue to run primary adds against Bush, or possibly even promoting Edwards? Could Howard Dean "approve" a positive message about John Edwards late in the primary race?

[Kolesar]

11. then donors would dump money into the Dean campaign to fund Edwards

That would get the GOPs crying "foul" (which is all that they know how to do--cry).

I think your paragraph 3 is more intriguing. I am sure that donor will hedge their bets with both parties' candidates. What I don't know is if a huge amount of money is going to pour into the Democratic candidate's campaign budget. I certainly hope so.

[democratreformed]

12. GOP trying to stop 527s

Link: http://www.start.earthlink.net/newsarticle?cat=9&aid=D80PQBSG1_story

And, info on the cost of NY and CA ad time:
Link: http://www.start.earthlink.net/newsarticle?cat=9&aid=D80PRQEO0_story

[NewYorkerfromMass]

13. If it's a long fight they will both be broke in the end

we need to decide by Super Tuesday.

[GodHelpUsAll2]

14. Edwards has a cap

He took matching funds so he has a cap of I believe it's 45mil. Once that is spent he is done until June. If he gets the nomination then it all starts over again. Any donors who have maxed out at the 2000.00 now can start donating again once the primaries are over and he can build money back up that way. Bush is NOT taking matching funds so he can spend spend spend from now until after the election is over. No, Dean can not continue to raise money through his campaign to support Edwards. However, a 527 can buy ads and airtime supporting who ever they want. Why do you think there was such pressure to get it down to one man? It is my belief that it would have been a much better deal to have EVERYONE stay in the race until after convention. Now that we have only 2 in the race, it will be much easier for the Bush team to start setting their sights on the nominee and commence with the beating. And since they are quite privy on who has and did what as far as money they are armed with everything they need to start the hacking.

[mouse7]

15. Edwards would need whole schedule to win. Cap less important.

If Edwards manages to win, he will need the whole primary schedule to clinch victory. That would leave less than two months to the convention. That could be dealt with by playing up the VP choice in the media for most of that time pretty easily.