 For the first time since the United States launched its grand experiment with publicly financed presidential campaigns, three decades ago, major party nominees in 2008 are expected to turn down all public funds. The reason: the grant, expected to be $83.8 million, might not be enough to run a winning campaign.
| Good. That's several hundred million dollars back to the taxpayers. |
Sen. Hillary Rodham Clinton, D-N.Y., is the first top-tier candidate to tip her hand that she intends to leave the public money on the table. Senior Clinton adviser Howard Wolfson said in an e-mail Sunday that she would not take matching funds in the primary or the general election campaigns if she won the Democratic nomination. On her campaign Web site, Clinton is asking that donors give her $2,100 for the primary and another $2,100 for the general -- a tangible sign that she won't seek matching funds in the general election. Candidates who take public money in the general election must forgo fundraising for their November campaigns.
| For $500,000 you too can sleep in the Lincoln bedroom. Less if you're a woman and Bill likes you. |
Abandonment of the public financing system would threaten the survival of a Watergate-era change that was supposed to limit the influence of big donors in presidential politics and let more candidates compete. If major candidates walk away from public financing, "it really calls into question why it exists at all," said Robert D. Lenhard, chairman of the Federal Election Commission, a supporter of the system.
| There's an interesting thought. |
The current system is being rendered obsolete by escalating campaign costs, sophisticated fundraising techniques, tepid public support and candidates such as Clinton who could raise $100 million before the first 2008 primary -- and $500 million by Election Day.
It remains to be seen whether the heavy spending predicted for 2008 will trigger public disgust and lead to changes, as public-finance advocates expect.
| They've been advocating this for a while; they and their friends helped get us McCain-Feingold. No thanks. |
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