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| Version 5 | Version 6 |
|---|---|
| Obama shuns public campaign funds | Obama shuns public campaign funds |
| (about 4 hours 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' | 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". |
| CAMPAIGN TOTALS SO FAR Barack Obama:Raised: $265mSpent: $219mCash on hand: $46mDebt: $2mJohn McCain Raised: $97mSpent: $73mCash on hand: $24m Debts: $968,301 Totals up to and for April 2008 class="" href="/1/hi/world/middle_east/7464620.stm">Q&A: Campaign finance rules | |
| "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. | "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." | "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. | He said Mr McCain's campaign was being financed by Washington lobbyists and special interest groups. |
| Internet campaign | Internet campaign |
| Mr Obama becomes the first presidential candidate not to use the public financing system for a general election since campaign finance laws were overhauled following the Watergate scandal of 1974. | Mr Obama becomes the first presidential candidate not to use the public financing system for a general election since campaign finance laws were overhauled following the Watergate scandal of 1974. |
| Mr McCain's team however, accused Mr Obama of breaking his promise to take public funding. | Mr McCain's team however, accused Mr Obama of breaking his promise to take public funding. |
| "This decision will have far-reaching and extraordinary consequences that will weaken and undermine the public financing system," said Mr McCain's spokeswoman Jill Hazelbaker. | "This decision will have far-reaching and extraordinary consequences that will weaken and undermine the public financing system," said Mr McCain's spokeswoman Jill Hazelbaker. |
| Mr McCain has said he is likely to take the public money. | Mr McCain has said he is likely to take the public money. |
| Mr Obama has so far raised an unprecedented $265m (£134.5m) in donations in his presidential race, most of it from small donations given over the internet. | Mr Obama has so far raised an unprecedented $265m (£134.5m) in donations in his presidential race, most of it from small donations given over the internet. |
| This dwarfs the nearly $97m Mr McCain has so far raised. | This dwarfs the nearly $97m Mr McCain has so far raised. |
| But Mr McCain can draw on the deep pockets of the Republican National Committee, which has far more money than the Democratic National Committee, correspondents say. | But Mr McCain can draw on the deep pockets of the Republican National Committee, which has far more money than the Democratic National Committee, correspondents say. |