What is "public financing" ??

[kentuck]

I would suggest that Barack Obama's campaign has been run entirely by "public financing". Granted, he has not taken money from the "government", which is money from the taxpayers, but he has taken a purer form of public financing.

The Republicans and the John McCain campaign are up in arms that Barack Obama "broke his word" - notice they did not say he "flip-flopped"- when he promised to take public financing in his campaign. In fact, Barack Obama has said that he wanted to get the big special interests out of campaigns. In that, he has succeeded.

The whole purpose of the McCain-Feingold campaign finance reform was to get the "special interests" out of political campaigns. They never envisioned that anyone would be able to raise money from the "public" in the manner in which Barack Obama has done in the last year or so. That is why they said the government should set aside money for the candidates to use in the general election.

But Barack Obama has "publically financed" his campaign. Not just in the way that the politicians have interpreted it. In fact, most Americans would probably agree that it is better to finance campaigns thru personal contributions the way Obama has done, rather than take the money thru government check-offs?

However, the government version of "public financing" should not be abandoned. Because, in the future, some candidates may not be able to raise money from the public the way that Obama has done. The idea of a few big contributors running campaigns should be a thing of the past. Obama has changed the way campaigns are run and has changed the definition of "public financing" forever.

[CANDO]

1. Every time I contribute $15 or $20!

Which has been numerous occasions thus far!

[gristy]

2. Public financing of elections is properly assumed to refer to government financing

I guess if you put quotes around it you can define it other ways, but not very convincingly.

[kentuck]

3. Sorry about that.

I tried.

[gateley]

4. Good effort! :)

This morning on MTP, Biden said that public financing is to get big money out of political campaigns. That when an interest can come up with millions of dollars they can say -- change your position on X or we'll give our money elsewhere.

Obama's campaign has managed to keep big money out of his campaign without public financing. As Biden pointed out, with 1.5 million contributors averaging less than $100 per contribution, none of them could use that threat to influence his decisions.

Although he agreed that Obama opted out of public financing, Biden made the point that Obama achieved the same goal OF public financing.

[kentuck]

5. I agree with Biden.

Obama has accomplished the same goal of public financing without taking government money. One would think conservatives would find that very admirable. :-)

[gristy]

6. Though I didn't say so before, your point is well taken

In spirit and in practice, Obama certainly is committed to the financing of his campaign by the public at large. :thumbsup: