Public Funding of Presidential Elections and Barack Obama, Part 1

22 Jun

Seth: Most everyone by now has heard that Barack Obama has decided not to participate in the Federal Election Commission‘s (FEC) program to use tax payer dollars to finance his general election campaign. The importance and effect of his “flip-flop” not only on his campaign, but on the public financing system in general is something to discussed, but not before we completely understand the system.

The FEC started public funding of the elections in 1971 through legislation of Congress. The program is funded through taxpayers who make voluntary contributions on their federal income tax returns and also sets limits on what can be spent, and forbids all private contributions to candidates that accept the public financing. Believe it or not, the idea was proposed by President Theodore Roosevelt during his State of the Union Address in 1907. The financial problems associated with running for President were as troubling in the beginning of the 20th century as they are in this century.

“There is a very radical measure which would, I believe, work a substantial improvement in our system of conducting a campaign, although I am well aware that it will take some time for people so to familiarize themselves with such a proposal as to be willing to consider its adoption. The need for collecting large campaign funds would vanish if Congress provided an appropriation for the proper and legitimate expenses of each of the great national parties, an appropriation ample enough to meet the necessity for thorough organization and machinery, which requires a large expenditure of money. Then the stipulation should be made that no party receiving campaign funds from the Treasury should accept more than a fixed amount from any individual subscriber or donor; and the necessary publicity for receipts and expenditures could without difficulty be provided.”

The Presidential nominee can be eligible for $20 million dollars plus a cost of living increase, which in this election year will bring the total to $84.1 million dollars, from the FEC. 84.1 million dollars is a lot of money, but to a candidate such as Barack Obama, he already knows he has the potential to raise much more than that which will only help his campaign. In part two, we will discuss the implications of his decision and what it means for the system overall. It is important to note that traditionally, Democrats and liberals have been the strongest proponents of the public financing system for presidential elections.  

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One Response to “Public Funding of Presidential Elections and Barack Obama, Part 1”

  1. Paul V June 22, 2008 at 9:36 pm #

    voted Hilary Clinton, and only support Hilary Clinton, No matter what Hilary Does suspend her campaign concede her campaign. No matter what Hilary does she could even support Obama and campaign for Obama I will never Vote for Barack Obama, I do think America is ready for a black president, just not Barack Obama,,, The way The Democratic party handle this election with the Corporate Media propaganda the whole election, Turned this election upside down,, Obama could of ran over someone,, like Haley Berry, No one would care and still vote,, Obama..
    There several million Voter right now like my self, will not ever vote for Barack Obama, Many like my self will be Voting for McCain, my reason is simple,, the Obama voter came on CNN & MSNBC and said if obama does not win the primary, Obama supporter will vote for McCain, Democratic party did not do anything to the obama camp to stop ,, why is obama party splitting the party in half, Now pelosi and many other are blaming Hilary and kept on with the propaganda Corporate Media, Obama Said on the new so many time,, does not Matter, if your Democrat or Republican,, you want the right person for the right Job,, He is so right,,when He said that we wanted Hilary,, Well Congrats to Obama his supporter got him to the primary,,,but He will never win the election,, for President, I will not stop with my blogging,, who is the best man for the job between Barack & McCain,, will vote for McCain he will be way better than Barack Obama, I can put up for McCain for 4 years and Hilary Can run again, Pelosi and the rest of the democrat party,, days are number at this point, For pushing Hilary out and ruining her Career, Even now During Clinton Exit speech,, Democratic party Told Hilary if she does not back there little puppet Barack Obama they will ruin her career,, In my opinion They all ready Ruined Hilary Clinton Career, Right Now I am going listen to one thing Barack Obama said, and that is, like I said, it does not matter if your Democrat or republican who is the right person for the job,,,, Hillary supporter need to stick together, Vote for McCain or just not vote for we need the right person,,, Hilary is up on stage right now saying what pelosi and the democratic party are telling her what to do,, or Economy is down and the way the propaganda Media is,, we are turning into a 3rd world country,, by rigging the election thru the media, Hilary Supporter who really want Hilary to be president Need to vote for McCain or just not Vote for Barack Obama, let McCain win,, there nothing more he can do as president, Congress will not let him it Congress who controls everything,, not the president, Pelosi and the a lot of the democratic party ruined Hilary Career, If all Hilary Voter, stick together, than We can restore Hilary Career and make her President, in 4 years. if you vote for Obama we have to wait maybe 8 years or 4 years and republican will be office, if Obama wins the presidency he will only be 4 year term,,, I say give all your supporter not to the democratic party, but to Hilary Clinton.. democratic party needs all of them need to leave office and get fresh people in there, who can unite the party not keep it separated and force unity, to who they want not who the voter want,, Hilary would of won this election, DNC screwed her with Florida and Michigan if those vote were counted at the beginning she would of won this race along time ago..and for the sexist Media, Like CNN & MSNBC… will continue to not report the new but Make it up as they see fit, All Hilary supporter need to unit together.. and stick together,, Margaret Thatcher was prime Minister 30 years ago,, but American Men and New Bias, is keeping woman down for personal gain, Like Keith Oberman, & Chris Mathews Who are the biggest Sexist on this MSNBC stations

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