Obama preserves public financing option (poses novel question to FEC)

AP on Yahoo ^ | 2/7/07 | Nedra Pickler - ap

[NormsRevenge]

WASHINGTON - Democratic Sen. Barack Obama (news, bio, voting record) is asking whether he can take money from donors who want him to be president, then give it back later. The Federal Election Commission said Wednesday that it will look into the novel question.

Obama is indicating that he wants to at least keep the option of using the public financing system for his presidential campaign if he becomes the Democratic nominee. To do so, the Illinois senator could not spend any money from contributors for political purposes, but instead use federal funding that is expected to total about $85 million for next year's general election.

"Senator Obama has long been a proponent of public financing of campaigns and we are asking the FEC to take a step that could preserve the public financing option for the party's nominees," said Obama spokesman Bill Burton.

Strategists from both parties estimate that the 2008 race could cost each nominee $500 million — far more than the Presidential Election Campaign Fund can afford. It is financed through the $3 checkoff on federal income tax returns.

Obama has decided to raise unlimited private contributions for the primary and general campaigns, following the lead of chief Democratic rivals Sen. Hillary Rodham Clinton and John Edwards. Edwards and Obama also say they won't accept money from lobbyists or political action committees.

But Obama's lawyer, Robert Bauer, suggested in an advisory opinion request to the FEC that Obama may want to participate in the public financing system for the general election if he's nominated and the Republican candidate agreed to do the same.

"Should both major party nominees elect to receive public funding, this would preserve the public financing system, now in danger of collapse," Bauer wrote.

But a Republican will not be nominated for president until next year and it's impossible to know whether the candidate will agree to public financing. So Obama wants to know if he can raise the general election money now and give it back later if an agreement is reached.

While both President Bush and Democratic challenger John Kerry rejected public funding for their primary campaigns in 2004, they did accept $74.5 million each for the general election campaign.

Three Republican and three Democratic commissioners have 60 days to respond, unless the FEC decides to honor Obama's request for an expedited response. At least one commissioner, Republican Michael Toner, appeared opened to Obama's idea but said he needs to examine the law to see if it would be prohibited.

"We're dealing with uncharted territory here," Toner said. "We have candidates that face unique fundraising challenges and political pressures in the 21st Century, and I think the law needs to adapt whenever possible to meet those challenges."

All other presidential campaigns would have the right to weigh in with their comments before the FEC makes a decision.

Obama established a presidential exploratory committee last month and plans to announce his candidacy on Saturday in Springfield, Ill.

[NormsRevenge]

Secretary-General of the U.N. Ban Ki-moon (R) sits with U.S. Senator Barack Obama (D-IL) on an aircraft while their way to Washington, DC, to New York City February 2, 2007. (Evan Schneider/UN Photo/Handout/Reuters)

[NormsRevenge]

Sen. Barack Obama, D-Ill. listens during a news conference about Iraq, Tuesday, Feb. 6, 2007, on Capitol Hill in Washington. (AP Photo/Gerald Herbert)

[Howlin]

Give it back later?

She's NOT going to like that at ALL!

[NormsRevenge]

Democratic National Committee Chairman Howard Dean (L) applauds U.S. Senator Barack Obama (D-IL) at the DNC winter meeting in Washington February 2, 2007. (Jim Young/Reuters)

[BunnySlippers]

He is still wet behind his VERY ENORMOUS EARS!!!

[AcesFullMike]

I don't think Obama really believes the Republican candidate would refuse public funding;
I think he wants to be able to throw that gauntlet down, watch the Republican refuse, and make it an issue.

Not a bad bit of political maneuvering, for a Democrat.

[digger48]

"TA-DAAAHHHH"

[AcesFullMike]

Y'know, people, if Obama actually gets the nomination, we're gonna have to do a lot more than post funny pictures and mock his ears and his name.

The guy's a contender.

[arthurus]

Mr. Obama looks like he should have his own sit-com.

[digger48]

Dang! You've been busy on your first day here!

Welcome to Free Republic

[cripplecreek]

Y'know, people, if Obama actually gets the nomination, we're gonna have to do a lot more than post funny pictures and mock his ears and his name. The guy's a contender.

You're absolutely right but unlike the left we aren't angry people. We have plenty of fun but when it comes time for getting down to business FReepers are a formidable bunch.

[AcesFullMike]

Thanks. :-) I'm on a week's vacation and have the luxury of doing this sort of thing right now.

Anyway, I guess my point was that Hillary does half our work for us in getting people to dislike her. Obama is likeable and tactical; formidable, if the Dems actually nominate him.

[MittFan08]

"The guy's a contender."

Not really- he's 20 points behind Hillary, and perhaps most importantly, he is spouting the kind of mindless platitudes ("we've got to have hope") that Vice Presidential candidates make. I think that's the office he wants.

I expect to see Obama as the Democratic nominee in my lifetime, but not this election.

[Blogger]

And clean and articulate too

[AcesFullMike]

You may have a point there, but I remain convinced of Hillary's ability to put her foot in her mouth.
Obama also had the luxury of not being in the Senate in '03 to cast a vote on the war.
Hillary is already getting heckled at Democratic events for her vote for it.

[AcesFullMike]

*rimshot*

Try the veal, tip your waitress.

;-)

[MinuteGal]

".....take money from donors and then give it back later....."

Who gets the interest?

Leni

[NormsRevenge]

Who gets the interest?

--

George Soros will be happy to provide a hedge fund account for Obama with a back door slot, I'm sure.