Obama on Campaign Financing: "The System is Broken"

[ultraist]

Run time: 02:03 https://www.youtube.com/watch?v=oLcnDhA5jYw   Posted on YouTube: June 20, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: June 20, 2008 By DU Member: ultraist Views on DU: 460

 
Speaking live for the first time on his decision to opt out of public financing, Obama discusses campaign financing at a press conference in Florida.

Obama contrasts his operations, where 90% of his donations have come in from small donors, to McCain's, whose campaign has accepted huge amounts of money from special interests and federal lobbyists:

"The system is broken because what we've got is a system where we have 527s raising vast amounts of money, much of it undisclosed, from special interests, from PACs, from federal lobbyists..."

"We don't take PAC money, we don't take money from federal registered lobbyists. We've now imposed those same rules on the DNC. 90% of our contributions are from small donors. And what we have done is to create a system, that allows us to free ourselves from dependence on special interests, from lobbyists. That stands in contrast to McCain's operations now, where he says he's in the system , yet, a huge proportion of his money is raised from special interests, from lobbyists. I don't think that's a recipe for reform."

[Tutonic]

1. This is a Great Day t o be an American!

John McCain and his right to life, gun in my hand buddies must be taking one huge crap. They don't have the money to beat this guy--er uh the American People!!!! They finally met their Waterloo. If John McCain could raise more than $1.25--that's right one dollar and twenty-five cents, he wouldn't be crying now and instead he'd be opting out of the system. But instead he's got to do what the Republican's have forced the Democratic candidates to do in previous elections--feed off of the government dole. How's that squarin with the Republican talking point about less government reliance? The American People through donations of $1, $5, $10, $100, etc., have disarmed the Republican party kingpins and made a mockery out of their alliances with corporate America. This grassroots movement is solid and is about to overtake corrupt politicians, corporate daddies and their lackey enablers in the media. We may not achieve everything that we sought out to but come January 2008 we will begin the process of reinstating our Constitution, democracy, and the end of the Iraqi occupation. This is a truth that is self evident!

[pedo]

2. what a load of crap

he is opting out of public financing because he would have to limit his spending. if he didn't have so much money in the bank, he would be in favor of public financing, and would gladly accept it. he has flip flopped and compromised his principles because its convenient.

[Tutonic]

3. Hey Pedo, call it what you want. I'm sure the 527 gang would

also call it hypocritical, flip-flopping, dishonest, elitist, etc., etc, etc. But the fact remains that when the North Carolina, Mississippi and West Virginia 527s crawled out from beneath the floorboards during a PRIMARY season--John Mcbush failed to stop their inflammatory videos. And yes Howard Dean and the DNC wrote directly to McCain on each occasion and requested that he speak out against the 527s and force the state parties to cease and desist. Mr. McCain blew kisses at the state parties and revealed his losing hand at that time. The 527s are ruthless and cannot be stopped by a narrow spine man like McBush. So Obama took matters into his own hands. Obama may take criticism from the MSM, political wonks and the internet crowd but do you really think Ma and Pa Paulson in Wahoo Minnesota really care about this decision--since it doesn't translate to higher wages, lower gas prices in Wahoo? Obama came to the street fight with a BIG GUN, John McBush with a rusty pocket knife. I bet Pa Paulson understands that?