This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/world/americas/7463813.stm
The article has changed 8 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Obama shuns public campaign funds | |
| (about 1 hour later) | |
| Democrat Barack Obama has said he will not take public financing, allowing him to raise unlimited private funds in his campaign for the US presidency. | Democrat Barack Obama has said he will not take public financing, allowing him to raise unlimited private funds in his campaign for the US presidency. |
| His decision means he will forgo more than $80m (£40.5m) that would have been available for him to fight Republican John McCain for the White House. | His decision means he will forgo more than $80m (£40.5m) that would have been available for him to fight Republican John McCain for the White House. |
| Candidates who accept public money cannot raise funds from private donors. | Candidates who accept public money cannot raise funds from private donors. |
| Mr Obama set records raising money for his campaign for the Democratic nomination during the primary contests. | Mr Obama set records raising money for his campaign for the Democratic nomination during the primary contests. |
| System 'broken' | |
| The decision reverses his earlier promise to use the federal public financing system if his Republican rival also did so. | The decision reverses his earlier promise to use the federal public financing system if his Republican rival also did so. |
| The Obama campaign team said Mr McCain was already using privately-raised funds in his campaign and that the public finance system was "broken". | The Obama campaign team said Mr McCain was already using privately-raised funds in his campaign and that the public finance system was "broken". |
| "It's not an easy decision, and especially because I support a robust system of public financing of elections," Mr Obama said in a video message to supporters. | |
| "But the public financing of presidential elections as it exists today is broken, and we face opponents who've become masters at gaming this broken system." | |
| He said Mr McCain's campaign was being financed by Washington lobbyists and special interest groups. |