Edwards campaign opts for public financing

In something of a turnabout, the John Edwards 2008 campaign announced it would accept public financing in the primary campaign. Here are some exerpts from the press release.

Chapel Hill, North Carolina – Today, Senator John Edwards announced he will be seeking public financing for the 2008 presidential primary campaign. Just as he challenged the Democratic Party to stop accepting contributions from lobbyists, today Edwards is again taking the lead in ending the money game in Washington.

"You can't buy your way to the Democratic nomination—you should have to earn the votes of the American people with bold vision and ideas," said Edwards' campaign manager Congressman David Bonior. "This is the most expensive presidential campaign in history, by far. And the simple fact is that the influence of money in politics—and the focus on raising money in this election—has gotten out of control. It's time to get back to focusing on the issues that matter to the American people. That's why John Edwards has decided to play by the rules that were designed to ensure fairness in the election process by capping his campaign spending and seeking public financing."

Under the public financing system for the presidential primaries, the government will match up to $250 of an individual's contributions to an eligible candidate. To establish credibility, a candidate must show broad-based public support by proving to the FEC that he or she has raised in excess of $5,000 of matchable contributions in each of at least 20 states. This is done through a threshold submission to the FEC. In addition a candidate must also agree to: limit campaign spending for all primary elections; limit campaign spending in each state; and limit spending from personal funds to $50,000.

It's an interesting choice. The Edwards campaign raised over 23 million dollars in the first six months of 2007, so it's clear that they could raise money in excess of the 50 million cap which is effective until August of 2008 - their limit under the public financing rules. On the flip side, the decision is liberating. Maximizing contributions under the limits of public matching can probably be accomplished through online and referral efforts. That means Senator Edwards won't need to court larger money contributions (they won't be matched) directly, or through small group parties. He can spend his time campaigning for votes.

Another intriguing aspect is that he's finessed Clinton and Obama on an issue they claim to support. Both laud the idea of public financing, but have demurred on utiliziing it. They have both received (particularly Senator Clinton) large money contributions and seem bent upon raising as much cash as is possible. Edwards did that in the 2004 primary, but seems to think that's not what matters this time around.

The Campaign To Change America has defied political convention from the start, and seems likely to do it until the end. We'll see if it works.

I, for one, certainly hope so.

Democracy is not a spectator sport.

Don Wheeler