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Presidential candidate Hillary Clinton has announced her support for public financing of federal elections on the same day she broke records for first quarter fundraising the presidential race, taking in $26 million. Although she opted out of public financing for her White House bid, she does believe it’s the ultimate reform to pursue.
Senator and 2008 Presidential hopeful Barack Obama speaks at this campaign event about his support for public financing of campaigns as outlined by his fellow Senator from Illinois, Richard Durbin (D) in the Fair Elections Now Act. He emphasizes the importance of rallying grassroots support behind winning public financing — because legislators will need pressure from the public before they will act on it. Video clip of the event after the jump.
Senator Barack Obama (D-IL) has raised many eyebrows in the past few weeks with his novel, somewhat surprising, suggestion regarding the potential public funding of his campaign for the presidency. On Feb. 1, the Obama Exploratory Committee submitted a request to the Federal Elections Commission for an Advisory Opinion (AO). The committee is asking the FEC if it is within legal limits for Sen. Obama to “provisionally” take funds from private donors for his campaign but to also have the option, should he get the Democratic nomination, of returning those contributions in order to accept public funds. However, this would only happen if the Republican opponent also agreed to do so.
This proposition is wrought with intrigue, not to mention brilliant strategy. By making the request to the FEC, Sen. Obama has made it publicly known that he is not precluding the use of public funds. That’s likely to make some supporters of public financing very happy, especially after the disappointment such individuals may have felt after Hillary Clinton -by some media accounts – single-handedly killed the presidential public financing system. The proposition, if accepted by the FEC and if Sen. Obama becomes the Democratic nominee, also presents a challenge to the Republican opponent to fight fair. The political costs incurred by the Republican nominnee for turning down such a noble challenge are immeasureable.
This past Friday, former Senator and current presidential candidate John Edwards called for public financing of all elections during an interview on Real Time With Bill Maher. Click here to download and watch the clip (2.5 MB).