Edwards To Accept Public Financing
John Edwards has become the first top-tier candidate to accept public financing, which would have the benefit of making up to $21 million available to his campaign in the form of federal matching funds.
On the other hand, it will limit him to $50 million in total spending for the primary season, as well as limits in each state — regardless of whether or not those states are judged to be more politically important. If he were to win the primaries, those limits would apply all the way up to the Democratic National Convention, leaving him potentially vulnerable to increased attack ads and thus more dependent on outside groups to run ads on his behalf.
"This is not about a money calculation," Edwards told CNN. "This is about taking a stand, a principled stand, and I believe in public financing."
However, it should be noted that Edwards' fundraising has lagged far behind both Hillary Clinton and Barack Obama — and he is now challenging them to also opt into public financing in order to prove their support for it.
Comments (17)
Captain-Sky wrote on September 27, 2007 4:55 PM:Damn Edwards Noone Has To Adopt Your Plans For Public Financing Or Anything Else For That Matter,Run On Your Own Merits And Stop Trying To Tell Senator Clinton How To Run Her Campaign.I Bet If You Were In The Lead For Funding You Would Not Even Have Mentioned This.Just Because You Adhere To Different Connotations Doesn't Mean That Hilliary Has To.To Be Honest With You In My Opinion You Should Just Go Ahead And Drop Out Of The Race Now And Save You And That Wife Of Yours Public Embarassment,But Then That's Just Me
Switch in Time wrote on September 27, 2007 5:24 PM:(1) He doesn't need to spend any money in Iowa to win in Iowa. So the Iowa cap is not a problem in itself.
(2) Not so sure about the NH-cap... could he allocate Boston TV and radio spending to the MA primary?
(3) This will hurt him among IA caucus-goers for whom electability is key. For they will ask: How will he make it to Sept. 1 on $50 million? What are the restrictions on candidate-specific ads by third-parties?
eric wrote on September 27, 2007 5:30 PM:That must have been a Big Pain In The Ass To Capitalize The First Letter In All Of Those Words!
But maybe I only think that because I "adhere to different connotations". Or something.
MarcNYC wrote on September 27, 2007 5:33 PM:Sounds like this is very calculated. No big surprise. It'll be the exact same thing as McCain going for the federal financing and 'challenging" everyone who has more money than him to do the same thing.
eriday wrote on September 27, 2007 5:45 PM:I've been in the any Dem but Hillary camp.
Edwards just got my vote.
Hmmm...seems to me it is bash Edwards day in place....
Well when you accept the big money...you don't need money from the IRS check-off..
The comparison to McCain is a little misplaced...unless someone can point to all of the chief Edwards staff jumping ship..
http://www.actblue.com/entity/fundraisers/16315
of course Sen. Clinton
http://www.actblue.com/entity/fundraisers/16334
But hey...Sen. Clinton knows it's the big dogs that matter....
Just another example of Edwards pretending their are two America's..
dan wrote on September 27, 2007 6:24 PM:I'm a big Edwards fan, but I think this is a lousy idea. If he does this and seals the nomination by February, he'll be out of money until the Dem convention. Whoever wins the nomination will get scads of money from small donors, etc., so I don't think it makes sense for any Dem to go along with this.
Liberal Larry wrote on September 27, 2007 7:00 PM:Money has just about destroyed the Democratic Party. If we can't change our party, we can't change America.
hwc wrote on September 27, 2007 7:44 PM:If we keep electing Republican Presidents, we can't change America either. Or, perhaps you like Roberts and Alito?
Geek, Esq. wrote on September 27, 2007 8:47 PM:Stick a fork in him. He's not electable in the general now, and folks in Iowa will come to understand that very well between now and January.
mopper wrote on September 27, 2007 8:55 PM:As an Obama-fan, I'm ecstatic. The hardcore Edwards types can try to spin this as a victory, but this is a guy who swore off public financing earlier in the campaign, rejected Obama's petition to commit to take public financing in the General if the Republican nominee will as well, and has had rumors swirling about his struggling fundraising.
Those who are in the anybody-but-Hillary camp should be coalescing around Obama now...Edwards just moved into Biden/Richardson territory. There's just no way. It's questionable whether or not he'll even be able to compete Feb 5th with the state-by-state limitations. He'd need to be basically already declared the nominee in order for that to happen, which will be very difficult, considering his struggles in SC and NH thus far.
bob wrote on September 27, 2007 9:12 PM:Yeah, Obama and Hillary will drown Iowa in TV ads. Edwards is not going to be able to keep up with them. His trajectory in Iowa is already not so good.
I like Edwards, and I feel bad for him not being able to do better in fundraising, but claiming that it's positive to go into the general election with one hand behind his back is just BS spin and pandering.
Cy Guy wrote on September 27, 2007 10:43 PM:And that isn't the end of the bad news for Edwards today. Just the additional cash to squash the bad publicity in Iowa from this story: http://tpmelectioncentral.com/2007/09/bad_news_for_edwards_hedge_fund_foreclosed_on_iowa_mortgages.php will push him even further toward the limit for the state.
Liberal Larry wrote on September 27, 2007 11:03 PM:America won't change.
daniel155 wrote on September 27, 2007 11:48 PM:Edwards has to do this because he will be swamped by Clinton and Obama spending if he does not take public funding. In the long run he will be able to spend less in an extended campaign because of the spending limitations.
But, in the short run, if he does not do this he will be dead. So he might as well take a shot because there is a good chance that the race will be over by mid-February.
Therefore it is somewhat laughable when Edwards says that this is not a money decision and that he believes in public financing. It took him a long time to decide and he had already raised about $23 million before deciding to go the public financing route.
Incidently Edwards has already spent about ten million dollars before deciding on public financing. Does that spending apply to the spending limits or does he get a fresh start?
ono wrote on September 28, 2007 12:13 AM:Mopper go worship Obama somewhere else. You're boring.
elrapierwit wrote on September 28, 2007 9:54 AM:Ono, get focused. The topic of this thread is Edwards and public financing, not mopper.
Get a life or learn how to scroll on sites.
