Monday, May 19, 2008

Dollar and Cents: The Election Goes On

Everyone is talking about how Barack Obama has the Democratic Party’s nomination secured, especially with the Oregon and Kentucky primaries happening this Tuesday (Clinton is projected to sweep Kentucky while Obama is said to have locked in Oregon by a landslide). So much so that Obama’s campaign has changed his speeches, where he now sounds like he’s making a general election speech, as THE Democratic candidate. So he’s taking shots at John McCain, the presumed Republican nominee.

McCain is having his own problems though. Where Senator Obama has found unprecedented success in fundraising, Senator McCain has run his campaign for president on a very tight budget. In fact, according to the New York Times, he’s going to be relying heavily on the Republican National Committee to fund his campaign. That, and he also has President Bush raising money for him.

This year’s presidential race is shaping up to be the most expensive presidential race in history (well, each election year in the last few decades has been the most expensive in history, before its followed by a new, more expensive race). Given the situation and the serious dollars its bringing out, a proposal for public financing of presidential campaigns will mostly likely be abandoned by both candidates (technically there are still three, with Senator Clinton still officially in the race).

That’ll knock some cents into the candidates!


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