Hope and Pocket Change

Thursday morning June 19th, Obama posted a YouTube video denouncing the public campaign finance system that has been in place since the 70's.

Basically, the public campaign finance system limits each candidate to a budget of $85 million during the presidential campaign from convention time through election day. The money is drawn from a pool of $3 donations taxpayers donate when filing their income taxes.

::As explained by CommonCause.org::

"

What is the Presidential Public Financing System?

In short, the presidential public financing system allows presidential candidates the option to receive public funds for their campaign if they can fulfill certain qualifications and abide by spending limits.

What is its purpose?

The primary purpose of the fund is to reduce the role of large amounts of private money raised in the presidential campaign and the obligations that are, or can appear to be, associated with those contributions.

The system was created in the 1970's in response to the Watergate scandals that surrounded the Nixon re-election campaign when his campaign committee was found to have illegally received hundreds of thousands of dollars from some of the country's largest corporations. Congress responded by passing sweeping campaign finance reform, which included the presidential public financing system designed to minimize a candidate's dependence on donations from wealthy special interests.

But the presidential public financing system isn't just designed to stop corruption, or the appearance of corruption. It is also designed to increase competition for candidates who may not have a broad network of large contributors or a large amount of personal wealth, as well as free up time to allow candidates to get their message out to voters instead of constantly raising money."

Basically Obama claims he wants to raise the money in small donations online instead of spending a measly $85 million already donated. Why would he want to do this? Well, because here are the numbers thus far raised by presidential candidates,

HMMMM I wonder if Obama always felt this way about public financing???????

(WALL STREET JOURNAL:

In January 2007, Sen. Obama criticized Democratic rival Hillary Clinton for opting out of public financing for the primary season. In February, responding to a questionnaire, he pledged to remain in the public-financing system as long as his Republican opponent agreed to a "fund-raising truce" for the general election.)

WOW WHAT A SHOCKER!!!!

Obama go back on his word?

NOOOOOOOO.......

Yeah, Obama plans on outspending McCain.

So, much for Hope and Change, and new Washington.

For those of you looking to Obama for change in Washington this November, do your homework.

Communism looks good on paper too.

*****UPDATE (08/07/08): the youtube vids above no longer work..... hmmmmmm.... democrats working hard on their internet skills!!!!************



Charles Drengberg