Just read on CNN.com that Sen. Obama, presumptive nominee for the Democratic Presidential Campaign has taken the unprecedented step of foregoing public financing for his campaign. I personally take this as a sign that, not only was he serious about change, but that hes actually following through with it.

You can read the full article here: http://www.cnn.com/2008/POLITICS/06/19/obama.public.financing/index.html

Essentially, it reads that Obama feels that he can compete in this election without the help of public financing from interest and lobby groups. The history of this system indicates that you may take public assistance in financing your campaign, but you may NOT spend money donated by individuals or any of their own money. If you opt-out of this system, you can take donations from individuals and spend your own money. This essentially means that Obama can spend unlimited money on his campaign and doesn’t need to garner support from companies, interest groups, or lobbyists.

“Where is the bonus in that?”, you might ask.

The bonuses are HUGE:

1. He will, essentially, owe no favors to major corporations or lobbying groups. This is a problem that I think has secretly plagued our system of elections for years.
2. He has a moral obligation to return on the things he promises because the citizens will be financing most of his campaign.
3. It makes him seem like a strong nominee in that he does not require aid from groups.
4. It shows that he is aware of at least one broken system.

Money, and the Republican Response

Of course, McCain is trying to spin this in the opposite way. McCain has come out as saying that this shows Obama as NOT returning on his word because he previously stated he would be going the route of the public financing system. A direct quote from Jill Hazelbaker, McCain’s communications director:

The true test of a candidate for president is whether he will stand on principle and keep his word to the American people, Barack Obama has failed that test today, and his reversal of his promise to participate in the public finance system undermines his call for a new type of politics.

Kinda have to LOL here because all I hear is:

Hey man… he said he was gonna use the same system I was. Now you are making me look like a jackass and that I can’t raise any money. That’s not fair!

Street Smart

To be honest, I think this is one of Obama’s smartest political moves yet because it not only echos the enormous support he has garnered thus far, but that he is capable of going against the norms of politics. From the article:

Obama would be the first the major presidential candidate to drop out of the modern campaign financing system for the general election since its creation in 1976 in the post-Watergate era.

My response: HAHA, pwnt.

Update (6-19-08): Apparently McCain is reeling over Obama’s choice on this. His argument? That Obama has failed to deliver on his promises:

Sen. Obama’s reversal on public financing is one of a number of reversals … that he has taken…

My response to this is pretty basic: sometimes changing your mind isn’t a bad thing. If someone has convinced Bush to change his mind, would thousands of kids be dead in Iraq? Likely not. To be honest, I would rather have a leader who changed his mind when he realized he was on a bad track than one that ignored the track and stuck to the plan even when everyone knows its bad.