Obama May Backtrack on Public Financing
Barack Obama’s fundraising machine has exceeded expectations and broken records, so it’s no wonder that he has hinted at retreating from public financing, a move his rivals are already trying to exploit. But Taegan Goddard argues that this “flip-flop story” could work to Obama’s advantage.
Wait, before you go…
While forgoing public financing would certainly be an embarrassment for Obama, he might go ahead anyway. The most obvious reason is that he’s already built a fundraising powerhouse that dwarfs his rivals. But he might also have a point about creating a better system of public financing.
For instance, Obama could easily turn a flip-flop story to his advantage by pledging to cap all campaign contributions at $250. Harnessing new voters, his popular brand and the Internet, he could promise to really build a people-based campaign. A million individuals could literally “max out” and feel like they have just as much influence as anyone else.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.Support Truthdig