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Obama's PACs and Lobbyists Canard

Submitted by Patrick Ruffini on Thu, 06/19/2008 - 11:53
in

In his self-serving, disingenuous video opting out of the public financing system today, Obama claimed that his decision to run the first corporate-funded general election campaign since Richard Nixon and CREEP represented "true" public financing and that it was necessary to fight back against a McCain campaign funded by PACs and lobbyists.

Obama has long raised the PACs and lobbyists canard to squeeze more money out of the pocketbooks of his small donors, even though he dramatically outraised and outspent Hillary Clinton in the primary campaign. Obama's campaign doesn't take lobbyist or PAC money, and since Obama became the nominee, neither will the DNC.

But just how big a factor are PACs and lobbyists in Presidential election fundraising?

Not much. Read on.

According to OpenSecrets.org, just 1% of John McCain's contributions -- a whopping $960,990 -- came from PACs. Over $88 million came from individuals.

legend Individual contributions $88,221,824 91%
legend PAC contributions $960,990 1%

And lobbyists? $655,576.

$250 Million Barack is opting out of public financing because John McCain has raised $1.6 million -- less than 2% of his campaign -- from lobbyists and PACs.

Obama used the same Big Lie against Hillary, though she raised $1.25 million from PACs, or about 0.6% of her fundraising. Lobbyists were not in her top 20 industries, according to Open Secrets.

Now, I know that lobbyists are supposed to be the source of all our problems. But lobbyists are ultimately hired guns -- hired and paid for by big corporations. So, is Obama turning down money from executives at big corporations and other special interests? Not hardly. These are the top employers of Obama contributors:

Goldman Sachs $571,330
University of California $437,236
UBS AG $364,806
JPMorgan Chase & Co $362,207
Citigroup Inc $358,054
National Amusements Inc $320,750
Lehman Brothers $318,647
Google Inc $309,514
Harvard University $309,025
Sidley Austin LLP $294,245
Skadden, Arps et al $270,013
Time Warner $262,677
Morgan Stanley $259,876
Jones Day $250,725
Exelon Corp $236,211
University of Chicago $218,857
Wilmerhale LLP $218,680
Latham & Watkins $218,615
Microsoft Corp $209,242
Stanford University $195,262

Roughly 90% of funding for Presidential campaigns comes from individuals, and just 1% comes from PACs. Lobbyists and PACs are convenient scapegoats, but just the tip of the iceberg compared to the millions Obama has received from corporate executives who hire lobbyists to represent them before Congress and the executive branch.

If this is really about small donors, "true public financing" and fighting corporate interests, Obama should have no problem limiting the maximum an individual can give to his campaign to $100 and turning down contributions from employees of Fortune 500 companies in the general election.

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Comments

Kool aid drinkers...

Submitted by StopObama on Thu, 06/19/2008 - 13:19.

Can't believe that we are all preaching to the choir, yet, we all believe that Obama is very very bad for the country, nevermind the fact that this country would be pulled more liberal than anytime in history.

Start with a small blog and flood it.  We must stop BO.  His cyber team is HUGE, but we can change the dialogue now.

Here's one that was cursing the GOP, McCain, republicans and conservatives just today.

www.taylormarsh.com

Use her evidence against Obama that are listed in her Archives.  Her supporters are now Pro BO and Anit everyone else.  They're spewing lies.

Spread the word folks and help our cause.

<b>Obama Camp Ducks Questions on Lobbyist Denial</b>
http://www.taylormarsh.com/archives_view.php?id=26784

<b>Barack Obama: The Cost of Corruption</b>
http://www.taylormarsh.com/archives_view.php?id=1723

<b>About Obama's Lobbyist Co-Chair</b>
http://www.taylormarsh.com/archives_view.php?id=26806

<b>Obama Plays Poker with Lobbyist</b>
http://www.taylormarsh.com/archives_view.php?id=26774

<b>Obama Embraces Outside PAC</b>
http://www.taylormarsh.com/archives_view.php?id=26867

<b>Obama attacks Gore</b>
http://www.taylormarsh.com/archives_view.php?id=26750

<b>Obama, Commander In Chief Flip Flop</b>
http://www.taylormarsh.com/archives_view.php?id=27074

<b>Obama Gaffes Multiply</b>
http://www.taylormarsh.com/archives_view.php?id=27795

<b>Obama Ducks Out Again</b>
http://www.taylormarsh.com/archives_view.php?id=27078

<b>Obama is Gaffe-errific</b>
http://www.taylormarsh.com/archives_view.php?id=27680

<b>Obama's Plagiarism, The Saga Continues</b>
http://www.taylormarsh.com/archives_view.php?id=27049

<b>Obama Derangement Syndrome is Born</b>
http://www.taylormarsh.com/archives_view.php?id=26856

<b>CNN Finally Discovers Obama's Dirty Tricks</b>
http://www.taylormarsh.com/archives_view.php?id=27811

<b>Obama Turns to Sexism in Final Push</b>
http://www.taylormarsh.com/archives_view.php?id=26741

<b>Culinary Union Intimidating Members to Vote for Obama</b>
http://www.taylormarsh.com/archives_view.php?id=2674

<b>Obama Calls Rural Iowans 'Ingrown'</b>
http://www.taylormarsh.com/archives_view.php?id=26614

<b>Obama Wanted Preconditions Before He Didn't</b>
http://www.taylormarsh.com/archives_view.php?id=25974

<b>Obama Campaign Channels Limbaugh</b>
http://www.taylormarsh.com/archives_view.php?id=26803

<b>Obama Insult Comparing the Campaign to the Bataan Death March</b>
http://www.taylormarsh.com/archives_view.php?id=27392

<b>Obama Rips Off Clinton's Econ Plan and Claims It For His Own</b>
http://www.taylormarsh.com/archives_view.php?id=27012

<b>Obama Campaign Reprimanded for Dirty Tricks updated</b>
http://www.taylormarsh.com/archives_view.php?id=27150

<b>Obama Panders on Guns</b>
http://www.taylormarsh.com/archives_view.php?id=27379

<b>Obama's Iraq Pledge Revealed as Double Talk</b>
http://www.taylormarsh.com/archives_view.php?id=27178

<b>Obama Gets Caught in a Cut and Paste Job</b>
http://www.taylormarsh.com/archives_view.php?id=27574

<b>Obama 'Present' Votes on Choice Don't Add Up</b>
http://www.taylormarsh.com/archives_view.php?id=26921

<b>Obama's Big Money to SuperDelegates</b>
http://www.taylormarsh.com/archives_view.php?id=27016

<b>Florida and Michigan and Obama's Corrupt Campaign</b>
http://www.taylormarsh.com/archives_view.php?id=27802

<b>Obama Camp in Disarray with Axelrod On Damage Control After Bhutto Assassination</b>
http://www.taylormarsh.com/archives_view.php?id=26737

<b>Obama, Exelon and their Consultant, David Axelrod</b>
http://www.taylormarsh.com/archives_view.php?id=26937

<b>Clueless Obamabots Get It Wrong Again</b>
http://www.taylormarsh.com/archives_view.php?id=27639

<b>Obama Ducks Vote then Attacks Clinton</b>
http://www.taylormarsh.com/archives_view.php?id=26374

<b>Obama's 'Present' Vote Ignored Dangers of Sex Shops Near Schools</b>
http://www.taylormarsh.com/archives_view.php?id=26717

Obama has long raised the

Submitted by Pogue_Mahone on Thu, 06/19/2008 - 13:24.

Obama has long raised the PACs and lobbyists canard to squeeze more money out of the pocketbooks of his small donors

 

"Squeeze"!?!

Methinks you should rethink that verbiage.

 

Obama should have no problem limiting the maximum an individual can give to his campaign to $100 and turning down contributions from employees of Fortune 500 companies in the general election.

To what purpose?  Why would he do that?  Why would you suggest that he do that?  Wouldn't he asking to limit individual donors to $100 be the same as him asking to limit his supporters free speech?

 

And if he did, wouldn't you forward looking, 21st century, future of the Right Movement types hammer him about asking his supporters to limit their free speech?

 

 

 

Obama's cynical game

Submitted by Sean Hackbarth on Thu, 06/19/2008 - 17:11.

How dumb does Obama think voters are? He's opting out of public financing because he's found a source of funds that is more than what he could get from the public trough. This isn't about a broken campaign finance system; it's about tactical advantage. Heck, he called it a private public campaign fund (or something to that effect). Obama's "new politics" are really turning cynical.

Not only should Obama be called out for breaking his promise to take public funds, but the truth about why he's doing it also needs to be shouted from the rooftops.

Does this mean Obama will.....

Submitted by St. Louis Conse... on Thu, 06/19/2008 - 17:44.

......stop all the ads coming from Moveon.org, Americans Coming Together, Labor Unions, Votevets, etc?

Ya know, because he "hates" those independent 527 groups, right?

Balderdash

Submitted by texicali on Thu, 06/19/2008 - 23:51.

The Obama campaign is being very disingenuous with respect to PACS and lobbyists....I'm a big believer of internet fundraising I'm not a big believe of Obama or his campaign......someone needs to call him out and tell it like it is....this just sickens me

My Comments

Submitted by belnumcree on Fri, 06/20/2008 - 10:45.

I made a couple of comments on the youtube video page. They had the audacity to delete them.

Just post the YouTube video and your comments here

Submitted by lagomorph on Fri, 06/20/2008 - 12:15.

I'm sure we would enjoy watching the video and reading your review.  Just copy the YouTube link in the top right corner under where it says "Embed".

After you copy the link to your clipboard, click the "Switch to plain text editor" link underneath the comment box and paste in the link.  You can check if it works or not when you click "preview".   For example, here's the video on Obama opting out of public campaign funding:

Sorry for the instructions if you already know how to do this - not trying to talk down to anyone, it's just that sometimes old, typical white Republicans who think that 64K of RAM should be enough for anyone don't realize how easy this is to do. Heehee!

Comrade Bunny-Bun

Obama's Lies

Submitted by IrishRep on Fri, 06/20/2008 - 12:27.

People can call negative campaigning anything they want; but, if it is the way that we can educate that uneducated electorate then so be it.  But, if November 4th comes around and people dont know how liberal Obama is then we didnt do our part. 

Actions speak louder then words and his words are inflated by more hot air then i have ever seen before!!!

How dumb does Obama think

Submitted by jibran_pcc on Mon, 08/31/2009 - 00:45.

How dumb does Obama think voters are? He's opting out of public financing because he's found a source of funds that is more than what he could get from the public trough. This isn't about a broken campaign finance system; it's about tactical advantage. Heck, he called it a private public campaign fund (or something to that effect). Obama's "new politics" are really turning cynical.

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