McCain Says Public Financing Is Dead
I do feel bad for the guy, but with the internet providing the means for anybody to easily donate to a campaign, the game changed and McCain’s public finance laws couldn’t change with it.
“No Republican in his or her right mind is going to agree to public financing. I mean, that’s dead. That is over. The last candidate for president of the United States from a major party that will take public financing was me,” the Arizona Republican told The Washington Times. […]
Mr. McCain said last year’s election has forever changed the way presidential elections are run. He said Mr. Obama carried traditional red states such as North Carolina by outspending him, and specified that in battleground Florida, the Democrat outspent him on television and radio advertising by $28 million. […]
Mr. McCain raised his own money for the primary season but accepted public financing for the general election, constraining himself to about $84 million for the campaign’s last two months. Mr. Obama, by contrast, stayed outside the public system for the primary and general elections, raising a total of $779 million, including $150 million in September.
Still, McCain rightly points out that Obama’s team raised a lot of money from big donors too, but all those donations were within the limits of campaign finance law. So I’m not sure why he even brings it up…
“There’s just an ability to raise so much more money now, and they did it very, very effectively,” he said. “They were able to raise incredible amounts of money. But don’t think it was all small donors; they raised the same percentage of big donors versus small donors as we did, they just did a hell of a lot more of it.”
I don’t have the number here in front of me, but Obama probably raised more money from small donors than McCain raised in total. So to complain about big donors is a case of sour grapes, otherwise…why even bring up the money raised by big donors, when “big” has a cap placed on it?