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Thursday, June 19, 2008

Video: Obama Opts Out of Public Financing

From the AP:

Obama officials said they decided to take that route because McCain is
already spending privately raised funds toward the general election campaign.
Obama has vastly outraised McCain, however, and would likely retain that
advantage if McCain accepts the public money.

The public finance system is paid for with the $3 contributions that taxpayers can make to the presidential fund in their tax returns.

"It's not an easy decision, and especially because I support a robust system of public financing of elections," Obama told supporters in a video message Thursday. "But the public financing of presidential elections as it exists today is broken, and we face opponents who've become masters at gaming this broken system."

From the Video:

Obama: I'm asking you to try and do something that's never been done before: declare our independence from a broken system and run the type of campaign that reflects the grass-roots values that have already changed our politics and brought us this far. If we don't stand together, the system we have now, the system where special interests drown out the voices of the American people, will continue to erode our politics and prevent the possibility of real change. That's why we must act. The stakes are higher than ever, and people are counting on us ... This is our moment and our country is depending on us. So join me and declare your independence from this broken system and let's build the first general election campaign that's truly funded by the American people.

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