Obama's promise to change financing from the public to public financing would be a major step towards restoring democracy in America. Democracy implies that all citizens have roughly equal access to and equal influence on decision-makers. After all, democracy means that all citizens make decision through their elected representatives. This is not an ideal but a practical and feasable solution that already works in many countries. There are many methods by which candidates can consult with their constituents and act on their behalf.
Financing from the public opens the door to major influence-pedalling since much of the candidates money comes from corporations in one form or another. Depending on corporate donations for success renders the eventual winner beholden to corporate interests and only when the public is highyly mobilized does their vote count.
My concern is that the corporate money which Obama has received to date suggests that he may not be serious about this promise or only a watered-down version. If he is serious, the winner of the election sweepstakes is the public.
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