Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (17242)	4/11/2008 12:30:59 PM
From: zeta1961	Respond to of 149317

I suppose we have different views on this..no need to keep beating on it......................

To: Travis_Bickle who wrote (17242)	4/12/2008 12:16:10 AM
From: Glenn Petersen	Read Replies (4) \| Respond to of 149317

In Chicago its called "walking around money," and trust me, Obama and his advisors, particularly guys like Axelrod, are aware of the practice and have condoned it in the past. The hesitancy of Obama's campaign to use it in Philadelphia is odd. Of course, it gives the campaign an excuse if Obama does not win the primary. It also gives Obama an opportunity to stake out some high moral ground as he gets ready to renege on his pledge to McCain to accept public financing for the general election. He has been dancing around that topic for a couple of months now. Obama: Public Finance System 'Creaky' By JIM KUHNHENN The Associated Press Friday, April 11, 2008; 7:33 PM INDIANAPOLIS -- The nation's system of public financing for presidential elections is "creaky" and needs to be updated, Sen. Barack Obama said Friday, offering another possible argument for not accepting taxpayer dollars to pay for his presidential campaign. Obama, who has raised a whopping $234 million from about 1.3 million donors, said the limited amounts of money available from the federal treasury for presidential campaigns pose difficult choices for candidates raising large sums. "I think that it is creaky," he said of the program financed by $3 dollar checkoffs in tax returns. "The amount of money raised through the public financing system may be substantially lower than the amount of money that can be raised over the Internet, which presents candidates then with some pretty tough decisions in terms of how they want to move forward if they want to compete in as many states as possible." This year, the presidential nominees would be entitled to $84 million in public funds in the general election. Speaking to donors at a fundraiser this week in Washington, Obama likened his fundraising to a "parallel public financing system," a remark that set off speculation that if he is the Democratic nominee he would be the first presidential candidate to forego federal funds in three decades. But Obama on Friday said he had not made a decision about his general election money plans and said that if he secures the nomination he would meet with John McCain, the likely Republican nominee, to discuss ways to reduce the influence of outside groups in the election. McCain is taking steps to accept the public funds, returning money he has raised so far that was designated for the general election. But he said he would reconsider if Obama decides not to accept the public funding. "I have a record on reform; Senator Obama has rhetoric on reform," McCain said. Speaking to reporters in Dallas, McCain said he would be glad to work with Obama on reform, but "that doesn't change the fact that he committed a year ago to public financing if I would. In direct contradiction to his rhetoric, he's now saying well, he may not do it." Obama noted that participation in the $3 checkoff had declined, reducing the amount of money in the fund. Obama himself, however, did not check off the $3 designation in his 2005 and 2006 tax returns. Obama, who had checked off the box in previous returns, said it was an oversight "It may be a situation where my accountant didn't do it," he said. His campaign later said that an amended 2006 tax return did assign the $3 to public financing. <snip> -- Obama acknowledged that besides an unusually large number of small donors, he also has relied on well-connected fundraisers with corporate interests. But he said his financial operation is separate from his policy positions. "We have a national finance committee, they are very active but they don't interact with me," he said. "They are not as a general rule part of my day-to-day policy or advisory committee. Although there are some people who have raised money for me who are also prominent business leaders, so if we were putting forward an economic plan and there was some expertise there we would tap into it." <snip> ___ Associated Press Writer Libby Quaid in Dallas contributed to this report. © 2008 The Associated Press washingtonpost.com