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Was Obama Right to Opt Out of Public Financing?
Newsweek ^ | September 9, 2008 | Andrew Romano

Posted on 09/09/2008 4:18:03 PM PDT by Zakeet

On the night of Sept. 16, Barack Obama will not be in Cincinnati, Ohio, or Lebanon, Va., or Grand Rapids, Mich., or any of the other swingiest regions of the swingiest swing states. Instead, the Democratic presidential nominee will start his evening at a 46,000 square-foot mansion in Beverly Hills, then proceed to the posh Beverly Wilshire hotel, where rooms start at $495 a night. Needless to say, Obama won't be prospecting for votes in the Golden State, where he currenty leads Republican rival John McCain by an insurmountable 15-point margin. He'll be mining for money.

It wasn't supposed to be like this. When Obama opted out of public financing--unlike McCain, who gladly accepted an $84.1 million check from the American taxpayers on Sept. 5--the chattering classes predicted that his efficient Web-based small-donor money machine would rake in "around or above $300 million" for the two-month general election campaign, a sum even larger than his record-shattering $272 million primary haul. But as we noted (first on July 11 and again on Aug. 19) "the real surprise" of this year's cash chase is that "it's much more competitive than anyone expected." Take July, for example. While Obama netted a massive $51 million--again clobbering McCain, who racked up $27 million--the important statistic to look at is the combined amount of cash-on-hand for each candidate and his party (i.e, how much is actually available to spend on getting the nominee elected). In this case, the totals were nearly identical: the Republicans finished the month with $96 million in the bank ($75 million for the RNC, $21 million for McCain) versus $94.3 million for the Democrats ($25.8 million for the DNC, $65.8 million for Obama).

(Excerpt) Read more at blog.newsweek.com ...


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: 2008election; campaignfinance; financing; obama; obamabiden
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No doubt that on Sept. 16 Obama would rather be in Ohio than Beverly Hills, listening to a working mom talk about her economic struggles instead of listening to Barbara Streisand sing. No doubt his political strategists--keenly aware of how the rest of American will interpret Streisand + mansions + Hollywood--would agree. But it isn't quite working out that way.

1 posted on 09/09/2008 4:20:17 PM PDT by Zakeet
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To: Zakeet

Who cares. He is a total loser!! It’s going to be a landslide no matter how much $$$ he raises. He is toast and I ain’t talkin’ Melba!


2 posted on 09/09/2008 4:22:06 PM PDT by austinaero
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To: Zakeet
Needless to say, Obama won't be prospecting for votes in the Golden State, where he currenty leads Republican rival John McCain by an insurmountable 15-point margin.

Insurmountable ... The way Lbama's® is fading anything is possible

3 posted on 09/09/2008 4:23:04 PM PDT by tx_eggman (Privatizing profits and socializing losses is no way to run an economy)
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To: Zakeet

As a GOP partisan, hell yes!


4 posted on 09/09/2008 4:23:49 PM PDT by Harry Wurzbach
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To: Zakeet
Yo Newsweak, it is Sept. Why are you talking about July's fund raising? How about telling the people how August fund raising went?

Ah but you don't want to embarrass the Oessiah by reporting those numbers now do you Newsweak?

5 posted on 09/09/2008 4:27:22 PM PDT by MNJohnnie (http://www.iraqvetsforcongress.com ---- Get involved, make a difference.)
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To: Zakeet
What happens to the excess after the election? Does Obama get to keep it since he's not taking on public financing?
6 posted on 09/09/2008 4:27:34 PM PDT by CatOwner
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To: Zakeet

I guess his “experience” running a campaign doesn’t trump a Governor or a Maverick...


7 posted on 09/09/2008 4:28:20 PM PDT by OrioleFan (Republicans believe every day is July 4th, but DemocRATs believe every day is April 15th. - Reagan)
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To: Zakeet

He broke his word, a man is only as good as his word. That about sums up the Obama candidacy.


8 posted on 09/09/2008 4:28:22 PM PDT by jwalsh07 (Mrs. Palin Goes to Washington and the MSM Trembles)
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To: austinaero

who cares??? this is a GREAT talking point for McCain to stick it to hussien....hussien pointed to running his campaign as part of his “executive decision making experience”....

if his decision for forgo public financing continues to be a question McCain and the GOP MUST ask loudly if this guy can’t run a 2500 person campaign how can he run this country??!!!

We know the answer but this could score big points with the undecided!!!


9 posted on 09/09/2008 4:28:56 PM PDT by God luvs America (When the silent majority speaks the earth trembles!)
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To: Zakeet
Obama won't be prospecting for votes in the Golden State, where he currenty leads Republican rival John McCain by an insurmountable 15-point margin.

Hmm, I wouldn't be so cock-sure about that. Given a little Bradley effect, and a little evangelical turnout, and demoralized Dems, who knows what might happen?

-ccm

10 posted on 09/09/2008 4:29:00 PM PDT by ccmay (Too much Law; not enough Order.)
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To: Harry Wurzbach

Remember Howard Dean and his money machine. He was done before Super Tuesday in 04.


11 posted on 09/09/2008 4:29:07 PM PDT by RED SOUTH
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To: Zakeet

Ya he goofed up bigtime. He’ll have to do a fundraiser almost everyday while the McCuda team is free to go into full campaign mode.


12 posted on 09/09/2008 4:30:17 PM PDT by NewMediaFan (Fake but accurate)
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To: austinaero
A

and his money are soon parted...

13 posted on 09/09/2008 4:31:07 PM PDT by quantim (Victory is not relative, it is absolute.)
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To: austinaero

Don’t count your chickens.... Besides, we known how Reagan handled Democrats in firm control of Congress. What will McCain do with a big majority of Dems? A landslide would be a moral victory (what did that accomplish for Bush 1? Nothing, he squandered it), but don’t forget the other races.


14 posted on 09/09/2008 4:33:04 PM PDT by dr_who
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To: Zakeet

He’s not fit to be my latex salesman.


15 posted on 09/09/2008 4:39:42 PM PDT by 6SJ7
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To: Zakeet
It's a nice article but only looks at the revenue side, without talking about the expenditure side. Obama has collected so much money that no candidate (not even Dubya) ever has, but he's now in a dangerous position of lacking money? That shows his priority.

So, this is what he boasted as 'executive experience'?

16 posted on 09/09/2008 4:40:19 PM PDT by paudio (Nobody cried 'racism' when Swann, Blackwell, and Steele lost to white guys in 2006)
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To: dr_who
Don't fret about the other races. The base will be out in force for Palin, the rest is icing. The base wasn't there for Bush like they will be for Palin/McCain. The only thing Bush had going for him was he wasn't Gore or Kerry.

I don't think anyone realizes the affect Sarah will have on other races.

17 posted on 09/09/2008 4:45:23 PM PDT by lewislynn (What does the global warming movement and the Fairtax movement have in common? Disinformation)
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To: lewislynn

Ok,don’t worry be happy.


18 posted on 09/09/2008 4:49:11 PM PDT by dr_who
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To: jwalsh07
"a man is only as good as his word"

If politicians kept their word 33% of the time, that would put them in the US Government Hall of Fame.

Even if they hit no home runs.....

19 posted on 09/09/2008 4:51:07 PM PDT by Positive (Nothing is sadder than to see a beautiful theory murdered by a gang of brutal facts.)
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To: Zakeet

Does anyone know the requirements for accepting Public Financing? Does he have to prove he is eligible for the office he is seeking? A little thing like providing proof of citizenship may be why he opted out.


20 posted on 09/09/2008 4:57:05 PM PDT by barker (Don't know how I got so cold. I just wanna feel something.)
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