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September 18, 2006

Public Financing of Presidential Campaigns Looking Very Outdated

A Yahoo News story reports that the Presidential Election Campaign Fund will most likely be useless in the 2008 presidential election.

Another reason not to set aside money for financing presidential campaigns on your tax return (via Yahoo News):

Strategists from both parties estimate the White House race in 2008 could cost each nominee $500 million — far more than the Presidential Election Campaign Fund can afford. As a result, this next presidential campaign could mark the first time in 30 years that the Democratic and Republican nominees turn down the fund's millions in both the primary and the general elections.

Ironically, one of the biggest supporters of public financing presidential campaigns and likely 2008 presidential contender, Sen. John McCain, is most likely to decline participation in the public financing system (via Yahoo News):

No one represents the crossroads of presidential ambition and campaign finance activism more than McCain. His name is synonymous with tough election laws that have banned parties from collecting unrestricted and unlimited amounts of money.

But McCain is among those prepared to forgo the public financing system in 2008, according to strategists working with him.

Posted by at September 18, 2006 02:00 PM

Reader Comments:

In New Jersey, we have taxpayer public funding of campaigns at both the legislative and executive levels. I have often expressed my opposition to these laws quoting Thomas Jefferson that to use taxpayer monies for ideas that he or she does not share is both "sinful and tyrannical." I am upset, though not shocked, at some who want the same thing at the executive level when running for the presidency.

Already at the legislative level, you have Congressmen that use taxpayer monies to fund and fuel their reelection campaigns. That is one of the reasons why you have 90% of incumbents reelected.

Sadly, the will to stop this practice is not there among the American people. I just hope and pray that it will be there in the future. Until then, I will just have to patient and have faith.

Posted by: Alex Pugliese at September 19, 2006 11:19 AM

Readers should recall that the Libertarian Presidential candidate is substantially not eligible for money from this fund (the exception is basically making an extremely hazardous bet), and therefore any money that you give to this fund will very certainly not be spent in support of Libertarian positions. If you want to give money to a Libertarian Presidential campaign, you need to give it directly to that campaign.

Also, it is but a matter of time until one of the major parties realizes that in addition to running through the primaries the serious candidate they run through the primaries several straw canddiates whose function it is to qualify for and collect the money they can recover from this fund, using all of it to attack the other party's likely candidate, in ads that only marginally promote their own candidacy. Thus, this money likely will get spent on the Presidential campaign, just not through the simple paths ruled out here.

George Phillies
http://www.phillies2008.org

Posted by: George Phillies at September 20, 2006 06:55 PM

I would agree with ending all public financing. I would end all campaign funding restrictions, although I would require REPORTING of all funds received.

I think a bigger point is to change the nature of Presidential nominations in this country. I would abolish the Presidential Primary system entirely.

Instead, I would establish a local caucus day perhaps on the second weekend of March. These caucuses would select delegates to district caucuses to be held in mid April. State conventions would be held in mid May. National conventions would be held during a mid June to mid August timeframe. September and October would be left free for general election campaigning.

Since potential candidates would only have to direct their attentions towards party stalwarts, rather than the general public, expensive and wasteful cross country campaigning could be avoided. Rather, they could use electronic methods to appeal to party stalwarts. Holding caucuses on the same day eliminates the issue of any state having a preferential status in nominating delegates. Also, caucuses can be closed to "members" of the party, rather than to the party's "registered voters".

I would also endorse caucuses as a preferred method of nomination for ALL partisan elected offices. Not to mention that it saves the cost of holding primary elections.

Posted by: Mark B. at September 20, 2006 07:24 PM
 


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