Debating the Presidential Financing System

I would like to draw your attention a debate ongoing between Michael Malbin of hte Campaign Finance Institute and Bob Bauer (the link is to Bauer's blog, but he has a link to Malbin's comments) about the Presidential campaign public funding program. You may have heard of it around this time of the year, you are asked on your income tax forms whether you want to contribute $3 dollars to the program. My H&R Block person said it is not added to my tax burden, but I wonder where the money comes from? But that is another matter.

The Presidential campaign funding program is a relic of the Watergate era and was created at pretty much the same time as the Federal Election Commission. Obstensibly, the program allows, as Malbin argues, for underdog canddiates to make a name for themselves they would otherwise be unable to make without the public funding system. Bauer argues that such a rationale is a poor one indeed for maintaining system of spending tax money on candidates who have little chance of winning the primary election, let alone the general election.

The presidential funding program is just over 30 years old. Prior to it's existence, candidates were able to build a national campaign without the matching funds. Canddiates today are capable of building a national campaign without matching funds, why then do we persist.

As Mr. Malbin points out, underdog, or rather underfinanced candidates keep frontrunners honest and provides a testing of ideas and campaign skills. But that is really so much hogwash. Modern presidential canddiates cannot run a campaign like William McKinley did from his front porch. Candidates are tested from the day they decide to run, by their opponents of all stripes, by the press, by their parties and by the electorate. They do not need publicly supported candidates to test them further. Furhtermore, any serious candidate for the Presidency does not appear from the mists, but has had a presence of some sort, whether it be as Governor, Senator, Representative or other position of high influence and policy. Looking back into history, no successful candidate for the Presidency has ever emerged from the shadows without some sort of significant leadership experience.

No the presidential campaign financing program is a money pit. Granted, there are larger money pits in the federal government, but this one is easy to dispense with. More and more candidates are going to opt out of the system because of the rediculous limits imposed on them during the primaries and thus the true contenders will not need the funds. The result, only gadflies and perennial candidates will be taking the public dole, and surely there is a better use of tax dollars.