The Political Chase

BREAKING: Edwards campaign to accept public funding

Unfortunately, winning a campaign has everything to do with how much money a candidate can raise, instead of the candidate’s capabilities and potential. Furthermore, the majority of campaign funds are spent on 30-second TV ads, which means America decides who is going to be president based on 30-second sound bites. Tragic.

While this doesn’t mean Edwards can’t win, it drastically increases the odds against him.

From The Hill:

In a stunning move that was described by one expert as a “Hail Mary” play, John Edwards’s campaign said Thursday afternoon that the former North Carolina senator will accept public matching funds for the 2008 primary season.

A campaign official told The Hill that the campaign would take in about $7 million for the third quarter that ends midnight on Sunday. This would bring Edwards to about $30 million for the year, or about $10 million shy of the campaign’s $40 million goal to compete in the first four states. All of those totals are well below the record-breaking hauls of Edwards’s rivals, Sens. Hillary Rodham Clinton (N.Y.) and Barack Obama (Ill.). At the end of the second quarter, Edwards had $13.5 million cash on hand. By accepting public funding, the campaign would cap its spending at a sum estimated to be $50 million for the primary.

The decision will give the campaign an infusion of cash that could help win early states. However, if these early results are not achieved, Edwards would not be left with enough money to compete later in the race.

In addition, if he became the nominee, the move could also hamstring Edwards’ fundraising until the nominating convention.