While Obama may have broken a promise, McCain may now be breaking the law. He opted into public financing for the primary because he was broke. When he became the presumptive nominee, he just declared that he was no longer bound to stay within the limits that the primary opt-in required. At the time, the FEC did not have a quorum because the Bush administration wanted to appoint "vote suppression guru" Hans Sapovsky to the FEC, and so there was a stalemeate. Bush eventually withdrew his name several months later. However, the Republican appointed head of the FEC expressed serious doubts whether John McCain's opt-out was legal. So McCain has been raising private money for the general election for months because the offical time period for the general to start is post-convention, so public financing doesn't start till then. If McCain didn't opt out he would have been broke (the RNC could have perhaps stepped in), so it's understandable. Even so, he at least violated the spirit of a law that he himself was the champion.
Campaign Finance Deformed
Please rec to give the video more exposure.
Furthermore, despite railing against 527s in the past he recently said that he would not be the referree, thus greenlighting them. This will be the general election strategy for McCain, massive spending by the RNC as well as massive spending by outside groups even though the official McCain campaign will abide by the limits.
By constrast, the Obama campaign has told top donors to donate to the campaign and not to 527s. It effectively shut down a major operation, America's Progress (I think) which was gearing up for massive spending. This way it has greater control of its message though more accountability for its message as well. In response to the recent MoveOn ad, it again publicly requested that donors donate to the campaign and not to 527s. MoveOn, having a long history dating to the impeachment era, however, wants to continue its monkey-business, but I don't think it's doing the campaign any favors. (I think the Obama campaing has a better sense of how to win over independents and that MoveOn risks preaching to the choir.)
Furthermore, though the difference is more cosmetic than substantive, the Obama campaign as well as the DNC are turning down money from federal registered lobbyists unlike the McCain campaign and the RNC.
In addition, Clinton was preparing to opt out and McCain was long considering it as well. He just couldn't raise the funds.
So, there is more than enough hypocrisy to go around. And in principle I think it is only fair that the campaign with more small donor and grass roots enthusiasm be reflected in its advertising strength. I know I take pleasure in donating to Obama when some BS thing goes down and would be pissed if I couldn't participate in funding his general election campaign. Obama has expressed some interest in limiting donation size but it unlikely he will reduce it below 2300.
It seems to me that in the future that more should be done to eliminate 527s as well as to put the cap on the donation size below 2300. Then, we would have a people-powered politics.
Again, remember that 527s can take unlimited donations and will be smearing Obama day and night in the fall. Rove is already behind the scenes with one, Freedom's Watch which ran Reverend Wright ads in Mississippi already.
So, technically, Obama walked back on a promise, but in terms of the spirit, I think Obama is on better footing than McCain.