Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 4:44:32 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Death Knell Tolls for Campaign Finance

Posted Jun 20, 08 7:48 AM CDT in Politics 

(Newser) – Barack Obama's decision to forgo public financing for his presidential campaign represents the biggest challenge yet to the troubled, loophole-filled system. But while the Illinois senator is now poised to spend a record amount to win the presidency, the explosion of  Internet donations that have propelled his campaign might actually be more successful at offsetting the power of special interests, writes the New York Times.

Every presidential candidate since 1976 has accepted public money, but they've done so "kicking and screaming," one professor tells the Times. From "soft money" to unregulated 527 groups, politicians have successfully exploited the program's loopholes. "The reality is that the amount of money that comes from the government is not enough to run a modern presidential campaign,” says a campaign donations tracker. Obama's decline of public funds might kill the scheme, but his flood of small donors makes the snub almost ironic.

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • GOP Lawsuits Aim to Undo McCain-Feingold Reforms

    Nov 13, 08 11:30 AM CST
    GOP Lawsuits Aim to Undo McCain-Feingold Reforms The Republican Party, smarting over its defeat at the hands of Barack Obama’s fundraising machine, is suing to defang the campaign-finance bill John McCain sponsored, the Washington Times reports. Two suits to be filed today will challenge the legislation’s limits on so-called “soft money” and the parties’ ability to merge spending efforts with individual campaigns. More »

  • Talk About Bad Timing...

    Nov 4, 08 10:11 AM CST
    Talk About Bad Timing... Just hours before Barack Obama announced that his grandmother had died, on the eve of the election, the California Republican Party filed a complaint against him for visiting her on his campaign’s dime, reports the Washington Post. The press release announcing the complaint may have been the worst-timed of any all year—but there was little time left in the campaign for it to backfire.
    More »

  • Change Has Already Been Delivered—to Campaigning

    Nov 3, 08 9:27 AM CST
    Change Has Already Been Delivered—to Campaigning We can't be sure what kind of change the next president will bring, but we do know that presidential campaigns themselves will never be the same, writes Gerald F. Seib in the Wall Street Journal. Among this year’s innovations:

    • The campaigns have redrawn the political map, making previously locked states competitive, like Virginia, and placing increasing emphasis on the Mountain West.
    More »

  • Nonprofit Workers Favor Dems

    Oct 31, 08 8:00 PM CDT
    Nonprofit Workers Favor Dems People in the charitable world lean heavily Democrat and love Barack Obama, but try to keep their affiliation low-key to avoid insulting the other side, the Chronicle of Philanthropy reports. A new study shows that 88% of foundation worker donations went to Dems, enriching Obama's effort by $399,000 and John McCain's by $32,000. “There’s an overwhelmingly uniform personal ideology among this group,” said a director at the group doing the study.


    More »

  • Obama Donors Get to Hang With the Big Kids

    Oct 29, 08 2:18 PM CDT
    Obama Donors Get to Hang With the Big Kids Barack Obama’s money machine has kept rolling thanks, in part, to a series of intimate fundraisers headlined by his top advisers, Politico reports. In exchange for a mere $28,500, Obama supporters could snag seats at a dinner with Warren Buffett or a “Round Table Discussion” with Robert Rubin. Slimmer wallets could attend a reception with John Kerry for as low as $250. More »

Barack Obama talks with Howard Dean, right, head of the Democratic National Committee, while in flight from Washington to Chicago Thursday, June 19, 2008.   (AP Photo/Alex Brandon)
Barack Obama reversed course to become the first candidate to reject $85 million in public money for the general election, a decision that will allow the record-shattering fundraiser to raise and spend...   (AP Photo/Alex Brandon)
Barack Obama applauds at the Apostolic Church of God service in Chicago Sunday, June 15, 2008.   (AP Photo/Alex Brandon)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 5)

Tags

Barack Obama • Election 2008 • campaign finance • McCain Feingold • online donations • public funding


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Politics Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »