Friday, March 02, 2007

Obama Ruling Fallout

With the issuance of the FEC's advisory opinion allowing the option for presidential candidates to raise funds for the general election, but escrow them until such time as they decided whether to take public funds for the general election or not, Sen. John McCain has said that he will raise money for general election, but pledges to use public money if the Democratic nominee does so as well. According to Politico.com:
John McCain raised the stakes Thursday in an emerging campaign finance showdown among the major presidential candidates.

In move similar to Democrat Barack Obama’s last month, McCain, a Republican, pledged to accept public funding in a general election, provided the Democratic nominee does the same. McCain’s announcement came hours after the Federal Election Commission granted presidential candidates increased fundraising flexibility.

The moves by McCain, the senior senator from Arizona, and Obama, the junior senator from Illinois, seemed designed to solidify their positions as the field’s leading advocates for reducing the influence of money in politics. But their pledges will also put some pressure on the other leading candidates from both parties to follow.
McCain, long a campaign finance reformer, is not so much of a reformer as to refrain from actually raising general election funds now, but pledges to do something ONLY if his general election opponent decides to do the same.

While other Democratic frontrunners Hillary Clinton and John Edwards are already raising general election money, neither Rudy Giuliani or Mitt Romney have publicly announced an intention to raise funds for a potential nomination as yet. However, they will probably not be able to wait much longer on that decision.

The truth is, it is unlikely that any of the other four leading candidates will take the pledge to use public money. I could be wrong, but these four are prolific fundraisers much more capable of raising money well in excess of the $80 million that will be offered in pulic funds.

Furhtermore, I am not sure that most Americans even care.

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