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Edwards Will Accept Public Financing

Candidate points to principle, analysts to necessity

By Wesley Oliver, Newser Staff

Posted Sep 28, 2007 10:19 AM CDT

(Newser) – With the deadline to report third-quarter fundraising looming, John Edwards said yesterday his campaign will accept public financing. He calls the unexpected shift “a principled stand,” but the Politico deems it “probably also the only lifeline he has to stay in the race." The ex-senator urged Hillary Clinton and Barack Obama to join him, CNN reports.

Analysts project Edwards will announce a 3Q fundraising total of $5 million to $7 million, trumped by the projected $18 million or more raised by his each of top rivals. He'll be the first major Democratic candidate to submit to public financing rules, which he has previously said would prevent him from competing effectively.

[Images (4)]

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Democratic presidential hopeful former North Carolina Sen. John Edwards speaks during a forum co-sponsored by the AARP and Iowa Public Television, Thursday, Sept. 20, 2007, in Davenport, Iowa. (AP Photo/Charlie... (Associated Press)

Democratic presidential hopeful, former U.S. Sen. John Edwards of North Carolina speaks during a live, interactive online web cast with MySpace.com and MTV in Durham, N.H., Thursday, Sept. 27, 2007.(AP... (Associated Press)

Democratic presidential hopeful former Sen. John Edwards answers a question during a debate at Dartmouth College Wednesday, Sept. 26, 2007 in Hanover, N.H. (AP Photo/Jim Cole) (Associated Press)

Democratic presidential hopefuls Sen. Barack Obama, D-Ill., left, and former Sen. John Edwards speak before a debate at Dartmouth College Wednesday, Sept. 26, 2007 in Hanover, N.H. (AP Photo/Jim Cole) (Associated Press)

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Edwards Will Accept Public Financing