Obama, McCain Say They Would Agree to Public Campaign Financing

Ron Burgundy · 03-03-2007, 09:04 PM

Bloomberg - March 1 (Bloomberg) -- Democrat Barack Obama (news, bio, voting record) and Republican John McCain (news, bio, voting record) said they'll accept public funds -- and spending limits -- for the 2008 presidential election if they win their party nominations and their opponents agree to do the same.

The two U.S. senators reacted today to a ruling by the U.S. Federal Election Commission allowing Obama to raise money for a general campaign and return it later if he decides to accept federal funds. Obama said he'll keep money for the general election in a separate account and not spend it.

Their moves may shore up the three-decade-old public funding program, which was in danger of collapse as candidates opted out to avoid the program's spending limits. Democratic frontrunner Hillary Clinton led the way in rejecting the system by beginning to raise funds for the general campaign right away.

``If Senator Obama is the nominee, he will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election,'' Obama spokesman Bill Burton said in a statement e-mailed to reporters.

McCain's campaign manager, Terry Nelson, then followed suit.

``The McCain campaign will now begin the process of accepting these general election funds, following the new FEC guidelines,'' Nelson said. ``Should John McCain win the Republican nomination, we will agree to accept public financing in the general election if the Democratic nominee agrees to do the same.''

Watergate

The public finance system was created after the Watergate scandal as a way of reducing the influence of big donors. While McCain, of Arizona, sponsored a 2002 law intended to rein in campaign fund raising, he hadn't yet committed to taking public funds to salvage public financing.

Clinton's campaign is considering a change in its position after the FEC ruling, spokesman Phil Singer said. The campaign of former Democratic vice presidential candidate John Edwards didn't have an immediate comment.

Rudy Giuliani, the former Republican mayor of New York, hasn't made a decision on federal financing yet, though he will now start raising money for the general campaign, said spokeswoman Maria Comella. Kevin Madden, a spokesman for former Republican Massachusetts Governor Mitt Romney, said his focus ``remains on the primary'' though the ruling ``expands the universe of available financing options.''

Until now, every major party presidential candidate has participated in the federal financing system since it began. It offers matching funds in primary campaigns and a one-time grant in the general campaign, funded by Americans who tick a box on their tax returns sending $3 to the program.

Public Money

The problem is the public money isn't keeping pace with the amounts candidates can raise on their own through big fundraisers or Internet appeals. FEC commissioners said today they voted to allow Obama, of Illinois, more flexibility to try to preserve the program even if the ruling raises more questions later.

``The public funding system rests on a very fragile base,'' said Hans Von Spakovsky, one of the three Republican FEC commissioners. He and fellow commissioners approved Obama's request on a 5-0 vote, with Commissioner Michael Toner absent.

Under federal law, an individual may donate $2,300 to a candidate for the primary campaign and the same amount for the general election, as long as the candidate doesn't accept public funding. The second donation must be returned if the candidate doesn't win his or her party's nomination.

In 2004, Democrat John Kerry and President George W. Bush opted out of the public financing system in the primaries. They accepted the $75 million general election campaign grant and agreed to abide by the corresponding spending limit.

In this race, analysts expect the Democratic and Republican candidates to each raise and spend $250 million in the general phase of the campaign. Clinton, 59, a New York senator, began raising the maximum $4,600 donation for the primary and general campaigns from the start.

The FEC ruling allows Obama, 45, to stay competitive while keeping open the option of public financing.

``I appreciate Senator Obama's ingenuity and his innovation,'' said Commissioner Ellen Weintraub, one of three Democrats on the FEC. ``It's a good policy result.''

To contact the reporter on this story: Kristin Jensen in Washington at kjensen@bloomberg.net

source: http://news.yahoo.com/s/bloomberg/20070301/pl_bloomberg/akq5rj0mhepg [link]

nbiggershaft · 03-12-2007, 03:50 AM

Originally Posted by Ron Burgundy

Bloomberg - March 1 (Bloomberg) -- Democrat Barack Obama (news, bio, voting record) and Republican John McCain (news, bio, voting record) said they'll accept public funds -- and spending limits -- for the 2008 presidential election if they win their party nominations and their opponents agree to do the same.
The two U.S. senators reacted today to a ruling by the U.S. Federal Election Commission allowing Obama to raise money for a general campaign and return it later if he decides to accept federal funds. Obama said he'll keep money for the general election in a separate account and not spend it.
Their moves may shore up the three-decade-old public funding program, which was in danger of collapse as candidates opted out to avoid the program's spending limits. Democratic frontrunner Hillary Clinton led the way in rejecting the system by beginning to raise funds for the general campaign right away.
``If Senator Obama is the nominee, he will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election,'' Obama spokesman Bill Burton said in a statement e-mailed to reporters.
McCain's campaign manager, Terry Nelson, then followed suit.
``The McCain campaign will now begin the process of accepting these general election funds, following the new FEC guidelines,'' Nelson said. ``Should John McCain win the Republican nomination, we will agree to accept public financing in the general election if the Democratic nominee agrees to do the same.''
Watergate
The public finance system was created after the Watergate scandal as a way of reducing the influence of big donors. While McCain, of Arizona, sponsored a 2002 law intended to rein in campaign fund raising, he hadn't yet committed to taking public funds to salvage public financing.
Clinton's campaign is considering a change in its position after the FEC ruling, spokesman Phil Singer said. The campaign of former Democratic vice presidential candidate John Edwards didn't have an immediate comment.
Rudy Giuliani, the former Republican mayor of New York, hasn't made a decision on federal financing yet, though he will now start raising money for the general campaign, said spokeswoman Maria Comella. Kevin Madden, a spokesman for former Republican Massachusetts Governor Mitt Romney, said his focus ``remains on the primary'' though the ruling ``expands the universe of available financing options.''
Until now, every major party presidential candidate has participated in the federal financing system since it began. It offers matching funds in primary campaigns and a one-time grant in the general campaign, funded by Americans who tick a box on their tax returns sending $3 to the program.
Public Money
The problem is the public money isn't keeping pace with the amounts candidates can raise on their own through big fundraisers or Internet appeals. FEC commissioners said today they voted to allow Obama, of Illinois, more flexibility to try to preserve the program even if the ruling raises more questions later.
``The public funding system rests on a very fragile base,'' said Hans Von Spakovsky, one of the three Republican FEC commissioners. He and fellow commissioners approved Obama's request on a 5-0 vote, with Commissioner Michael Toner absent.
Under federal law, an individual may donate $2,300 to a candidate for the primary campaign and the same amount for the general election, as long as the candidate doesn't accept public funding. The second donation must be returned if the candidate doesn't win his or her party's nomination.
In 2004, Democrat John Kerry and President George W. Bush opted out of the public financing system in the primaries. They accepted the $75 million general election campaign grant and agreed to abide by the corresponding spending limit.
In this race, analysts expect the Democratic and Republican candidates to each raise and spend $250 million in the general phase of the campaign. Clinton, 59, a New York senator, began raising the maximum $4,600 donation for the primary and general campaigns from the start.
The FEC ruling allows Obama, 45, to stay competitive while keeping open the option of public financing.
``I appreciate Senator Obama's ingenuity and his innovation,'' said Commissioner Ellen Weintraub, one of three Democrats on the FEC. ``It's a good policy result.''
To contact the reporter on this story: Kristin Jensen in Washington at kjensen@bloomberg.net
source: http://news.yahoo.com/s/bloomberg/20070301/pl_bloomberg/akq5rj0mhepg [link]

An Obama vs. McCain election would be a definite win for integrity.

Diesel66 · 03-12-2007, 02:31 PM

Originally Posted by nbiggershaft

An Obama vs. McCain election would be a definite win for integrity.

The guy who doesnt want you to have any first amendment rights is a win for integrity ?

Pro Street · 03-12-2007, 06:30 PM

Originally Posted by Diesel66

The guy who doesnt want you to have any first amendment rights is a win for integrity ?

Diesel66 · 03-12-2007, 07:07 PM

Originally Posted by Pro Street

mccain-feingold act

nbiggershaft · 03-12-2007, 09:06 PM

Originally Posted by Diesel66

mccain-feingold act

I think you'll find yourself pretty alone in considering campaign finance reform to be a serious infringement of first amendment rights.

Diesel66 · 03-12-2007, 09:14 PM

Originally Posted by nbiggershaft

I think you'll find yourself pretty alone in considering campaign finance reform to be a serious infringement of first amendment rights.

the entire purpose of the 1st amendment is for political speech. And they passed a law banning you from political speech on the tv/radio/etc... but any large business, political organization,news agency can tell you how to vote

nbiggershaft · 03-12-2007, 10:35 PM

Originally Posted by Diesel66

the entire purpose of the 1st amendment is for political speech. And they passed a law banning you from political speech on the tv/radio/etc... but any large business, political organization,news agency can tell you how to vote

I'll repeat, I super-duper don't care about the rights of individuals to line the pockets politicians. I don't think most other people see that as some intrinsic right either, it looks a whole lot more like bribary no matter how you want to dress it up.

Pro Street · 03-13-2007, 02:11 PM

Originally Posted by Diesel66

the entire purpose of the 1st amendment is for political speech. And they passed a law banning you from political speech on the tv/radio/etc... but any large business, political organization,news agency can tell you how to vote

after the 2004 swift boat and moveon bullshit I have no problem with th M-F act.

Diesel66 · 03-13-2007, 06:26 PM

Originally Posted by nbiggershaft

I'll repeat, I super-duper don't care about the rights of individuals to line the pockets politicians. I don't think most other people see that as some intrinsic right either, it looks a whole lot more like bribary no matter how you want to dress it up.

Running your own commercial is lining the pockets of politicans ?

The finance reform had little to do with direct donations.

Originally Posted by Pro Street

after the 2004 swift boat and moveon bullshit I have no problem with th M-F act.

You think the big groups will have any limitations ? They didnt in 2006. The only ones that are affected are me and you.

Pro Street · 03-13-2007, 09:36 PM

Originally Posted by Diesel66

You think the big groups will have any limitations ? They didnt in 2006. The only ones that are affected are me and you.

I can't afford a commercial.

nbiggershaft · 03-14-2007, 02:51 AM

Originally Posted by Diesel66

Running your own commercial is lining the pockets of politicans ?

The finance reform had little to do with direct donations.

You think the big groups will have any limitations ? They didnt in 2006. The only ones that are affected are me and you.

Oh I thought you problem was with the soft money prohibition. Yeah I suppose not being able to run commercials is something, still don't really care though.

Diesel66 · 03-14-2007, 02:17 PM

Originally Posted by Pro Street

I can't afford a commercial.

So you look to your friends and neighbors and say hey lets pool our money together. Or you turn to your political organizations (green peace, NRA, etc....) and say lets fight back against the politicans/journalists' positions.

BUT YOU CANT.

JaJae · 03-16-2007, 06:37 PM

Obama and McCain + 25 points That puts Obama at about a 90 and McCain is still behind at an upcoming -35.35 x 10^24