The One, in his own words-
I have been a long-time advocate for public financing of campaigns combined with free
television and radio time as a way to reduce the influence of moneyed special interests.
Obama's fundraising in Sep 2007, when he gave the above quote-2.1 million dollars.
In February 2007, I proposed a novel way to preserve the strength of
the public financing system in the 2008 election. My plan requires both major party candidates
to agree on a fundraising truce, return excess money from donors, and stay within the public
financing system for the general election.
McCain agrees to Obamas challenge to stick with public funding.
I am a cosponsor of the Fair Elections Now Act because I believe it is imperative that we get big money out of the political process. That’s why I have also made the pledge that my campaign will not accept money from special interest PACs or registered federal lobbyists.
PACs and lobbyists aided Obama's rise
I will restore objectivity to the executive branch by banning lobbyist gifts, assuring that
political appointees get their jobs based on merit and not solely on the basis of political
affiliation or contribution, and removing the use of public office for partisan advantage.
After endorsement, Obama says Powell will have a role in his administration.
"John McCain’s campaign and the Republican National Committee are fueled by contributions from Washington lobbyists and special interest PACs," he said. "And we’ve already seen that he’s not going to stop the smears and attacks from his allies running so-called 527 groups, who will spend millions and millions of dollars in unlimited donations." -Sen Obama on June 19th, as he opts out of public funding.
From today's StarTrib-
Democrat Barack Obama spent $87.5 million last month and began October with nearly $134 million in the bank, illustrating his vast financial advantage over John McCain, his Republican rival, who ended September with $47 million in the bank.
Sen Obama spent more money just last month than he would have received for public funding.
Obama has emerged as the most prodigious fundraiser ever in presidential politics. He spent $65 million on commercials in September. McCain spent $22.5 million. Even with extra help from the Republican National Committee, McCain has been at a clear disadvantage on the air.
What? Obama told us he had to opt out of public funding just to keep up with those terrible Republicans.
Obama reported raising a record-shattering $151 million in September, more than doubling the fundraising record he had set in August. McCain is accepting public financing and is limited to $84 million for the two months before Election Day.
Obama has spent almost twice as much in one month as McCain has allotted for two months with public funding.
Most politicians will eventually break one of the promises made during the campaign, usually because they make more promises that any one person can actually keep. But Obama didn't even wait to get elected. He has broken his own pledge to use public funding once it was clear that he could bring in loads of cash, and he has now promised a position in his administration to Colin Powell as a reward for his endorsement.