Obama Supports Public Campaign Finance

Barack Obama is hoping to reserve the right to use the public finance option for a Presidential campaign, should he be become the Democratic nominee.

In a campaign that could cost upwards of $500 million with private funds, Obama is exploring the option of instead utilising the $85 million expected to be provided by public funds, should agreement be reached with the Republican nominee to do the same.

In the meantime, Obama will be fundraising, but has asked the Federal Election Commission that should agreement be reached, if monies raised could be given back to donors. At that point the campaign could revert to just using the public monies.

Obama has long been an advocate of public funding of election campaigns, and is said to be disturbed by the growing cost of running for office. He is concerned also that the public finance scheme is in danger of collapse.

The FEC is considering Obama's proposal.