Barack Obama is abandoning public financing for his presidential campaign, reversing his earlier stance in bold certainty he can raise millions more on his own as the first major-party candidate to bypass the tax-checkoff system that was hurried into place after the Watergate scandal.
Obama has shattered fundraising records during the primary season, and he promptly showed off his financial muscle Thursday with his first commercial of the general election campaign. The ad, a 60-second biographical spot, will begin airing Friday in 18 states, including historically Republican strongholds.
Though it opens him to charges of hypocrisy, Obama's fundraising decision was hardly a surprise, given his record in raising money from private sources. Some $85 million in public money is available to each major party nominee during the fall campaign if they agree to forgo other contributions.
McCain told reporters in Minnesota on Thursday, "We will take public financing."
Barack Obama: Flip flopper.
UPDATE 8:50PM CDT: Politico has a multimedia presentation on Obama's flip flop.
Related post:
Obama flip flops on Jerusalem
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