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Obama Makes Best Case for Public Financing

We all know Obama opted out of public financing for his campaign and in turn shattered fund-raising records - the most startling statistic being that he raised more money in his campaign than both Bush and Kerry did in 2004, combined! However, we also know that Obama had an overwhelming amount of support from small donors, which gave his campaign a unique perspective on who drives the financial solvency of a campaign. We also know that Obama did not accept contributions from PACs or registered lobbyists. These are all signs that an Obama administration, with the appropriate amount of pressure and support, will work to reform a broken campaign financing system in order to empower ordinary Americans to participate in the political process and ensure that the voices of all voters, not just big campaign donors, are heard.

Obama has probably outlined the need for public financing better than anyone. Here is an excerpt from his book, The Audacity of Hope:

"Still, I know that as a consequence of my fund-raising I became more like the wealthy donors I met, in the very particular sense that I spent more and more time above the fray, outside the world of immediate hunger, disappointment, fear, irrationality, and frequent hardship of the other 99 percent of the population - that is, the people that I'd entered public life to serve. And in one fashion or another, I suspect this is true for every senator: The longer you are a senator, the narrower the scope of your interactions. You may fight it, with town hall meetings and listening tours and stops by the old neighborhood. But your schedule dictates that you move in a different orbit from most of the people you represent.

"And perhaps as the next race approaches, a voice within tells you that you don't want to have to go through all the misery of raising all that money in small increments all over again. You realize that you no longer have the cachet you did as the upstart, the fresh face; you haven't changed Washington, and you've made a lot of people unhappy with difficult votes. The path of least resistance - of fund-raisers organized by the special interests, the corporate PACs, and the top lobbying shops - starts to look awfully tempting, and if the opinions of these insiders don't quite jibe with those you once held, you learn to rationalize the changes as a matter of realism, of compromise, of learning the ropes. The problems of ordinary people, the voices of the Rust Belt town or the dwindling heartland, become a distant echo rather than a palpable reality, abstractions to be managed rather than battles to be fought."


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