Obama opts out of Public Financing – small update

Update - Again, don’t buy into the media hype or the Republican machine regarding Obama’s opting out of the system. Conventional Wisdom has the Republicans expecting to spend upwards of 150 million dollars on this race, that is 80+ from the public financing system and the rest from the RNC. If Obama opts into the system, he is limited to the 80+ and whatever the DNC can raise. Traditionally, the RNC has always out raised the DNC by millions of dollars. If Obama picked to go with public financing, he will be severely underfunded compared to McCain. The system is broken in that way. If both campaigns are only able to use the public financing system and the respective national committees have to stay on the sidelines, Obama would’ve opted in. However, that’s not how things work in politics.  Obama opting out is the Republican’s worst nightmare in this election, that’s why they are making so much noise about it.

Read this analysis of the Public Financing System and the Election Law Blog is following this issue as well

————

Today, Barack Obama opts out of the public financing system for the general election, forgoing 80+ million dollars. Already, the McCain campaign is making a ruckus about this, talking about how he went back on his words, blah, blah, blah, blah… Let me set this straight for all of you..

I don’t give a damn if Barack went back on his words on this issue. This election is about winning and putting a Democrat back in office. This issue about Barack and the public financing system is complete bullshit from the right wing conservatives. John McCain may have accepted the system, but his attack machine will come from outside of his campaign. We will see Republican right wing attacks from 527 groups and from the Republican National Committee, which has vastly (by a margin of 10 to 1) outraised the Democratic National Committee so far. The whole purpose of the RNC right now is to help elect John McCain. So, even if John McCain accepts public financing, he will always have more money to back him. The Republicans have always had an edge in money from special interest groups and 527s that don’t have to follow any campaign regulations.

Barack refuses to accept campaign contributions from special interest groups and lobbyists. The DNC, under his control, has also enacted a policy that will reject donations from these people. This is truly a campaign that is funded by the people. Over 1.5 million Americans have contributed less than $100 to his campaign and Barack’s general election will continued to be funded by individuals like you and me. This will truly be the first time that we the people are the special interest groups. This is the first time that we the people own the candidate, not lobbyists.

John McCain and the Republican dogs are attacking Barack on this issue because they are afraid. They are afraid of the power of the people, our ability to fund a campaign that will vastly out raise the Republican machine. People have estimated that Barack will raise 200 to 300 million dollars for the general election. This is HUGE! Because in order to match John McCain and the RNC, Barack will need as much as he can raise. This also means that the Democrats will be able to fully carry out the 50 states strategy and challenge John McCain and the Republican party in every state, forcing John McCain to spend valuable resources to defend areas that Democrats have traditionally ignored. This is called overwhelming your enemy with a vastly superior force. Never enter a fight with less superior tactics and resources.

Remember, all the Republicans want to do is to distract us from our goal. We have to keep our eyes on the end prize, which is the White House. This is perhaps the most important election in my lifetime. The next president will be able to shape the future of this great nation for the next 20 to 30 years simply with the appointments to the US Supreme Court. We can not afford to lose and we will not lose.